Kindred's CEO Henrik Tjärnström resigns, Nils Andén appointed as interim CEO

Online gambling operator Kindred Group announced Wednesday its CEO Henrik Tjärnström has resigned, effective immediately. The Board of Directors has appointed Nils Andén as interim CEO, a step up from his role as Chief Commercial Officer (CCO). 

"Henrik has been at the helm through many important milestones passed by Kindred and has undoubtedly put his mark in both the history of the company and the industry. Thus, on behalf of the Board of Directors and all shareholders, I would like to thank Henrik for his valuable contributions to the success of Kindred throughout the years he has led the Company and wish him well in his future endeavors", said Evert Carlsson, Chairman of the Board of Directors of Kindred.

Henrik Tjärnström

Nils Andén joined Kindred Group in 2020 as Chief Commercial Officer for Scandinavia, East and South Europe, and North America. He has worked at Kindred in the past, holding a number of positions between 2006 and 2016 as Head of Poker and Head of Established Markets before spending the final four years as Chief Marketing Officer for the Unibet brand.

Andén has also held positions as Chief Marketing Officer at CurrencyFair and as Director of Digital Marketing at GVC Group (now Entain Group). He is also a member of the Board of EasyPark Group. 

Of his appointment, Andén said: "I look very much forward to working closely with our Board of Directors, the executive management team, and all employees to achieve the goals of Kindred. I re-joined Kindred in 2020 as its Chief Commercial officer after having had positions within Kindred between 2006 and 2016 as Head of Poker, Head of Established Markets, and Chief Marketing Officer for the Unibet brand."

"I have a strong belief in our organization and the business models that have made this company so successful, and I am more confident than ever in Kindred's potential," he added. 

The latest announcement comes just days after it was announced that CFO Johan Wilsby would also leave the company sometime this fall. No reason for Tjärnström's sudden and unexpected departure was given. He had been at the helm of the company since 2010. While the two exits puzzled many analysts and investors, Kindred has reaffirmed its guidance for the year.

Last month, the company also announced a strategic review, opening the firm up for merger and takeover opportunities. The move was unveiled by the company’s Board of Directors following the publication of Kindred’s first quarter report. The strategic alternatives are being explored despite a sharp revenue rise to $381.5 million.

During the first quarter of the year, the group experienced growth across revenue and net profit, with the underlying EBITDA margin increasing to 16%. Revenue for the three-month period ended March 31 amounted to £306.4 million ($381.5 million), up 24.2% from the previous year.