Following six years at the forefront of Scout Gaming Group, Andreas Ternström is relinquishing his position as CEO.
The Swedish business leader assumed the role of CEO and President in 2016 but has opted to depart ahead of what is being termed a “significant reorganization” within the company.
While expressing appreciation for the departing CEO’s tenure, Scout Chairman Niklas Braathen acknowledged “obstacles” and stated that “the moment is opportune for Andreas to exit the company.”
These difficulties likely stem from Scout’s fiscal performance, which has been adversely affected by the conflict in Ukraine. The company disclosed a 20% decline in wagering income in its Q1 earnings report.
“On behalf of the organization, I wish to convey our deepest thanks to Andreas for his substantial contributions in developing Scout Gaming’s structure and particularly the product range that Scout Gaming currently possesses,” remarked Braathen.
“The company has been maneuvering through demanding periods for some time, and a substantial restructuring and transformation of our operational approach lies ahead. In light of this context, we have mutually determined that this is the appropriate juncture for Andreas to move on from the company.”
Ternström, in turn, conveyed his appreciation to his coworkers, particularly those based in Ukraine. He noted: “I wish to express my gratitude to all associates, staff members, the board, and all stakeholders for their backing throughout this period.”
My profound appreciation goes out to our remarkably skilled and valiant Ukrainian team. Their unwavering bravery and commitment have remained steadfast, even amidst the trials of conflict and a two-year global health crisis.
My involvement will continue, albeit in a different capacity, as a shareholder maintaining close ties. I eagerly anticipate providing ongoing support to the organization and its future pursuits.”
