Evolution appoints Joakim Andersson as CFO after Jacob Kaplan steps down

B2B online casino solutions provider Evolution has appointed Joakim Andersson as its new Chief Financial Officer after Jacob Kaplan chose to step down from the position. Andersson will become CFO with effect from February 18, while Kaplan will remain in an advisory position to the business for a short period. 

Kaplan has been CFO at Evolution since joining the group in 2016. He previously worked in the same position for Nordnet Bank.

"I want to thank Jacob for his work and contribution to the development of Evolution into the group we are today," said Evolution CEO Martin Carlesund. "He has been an integral part of our management team and played a key role in our expansion and mission to improve the company each day. We wish him all the best in the future."

Andersson has worked in senior roles across several financial entities. He has most recently worked as CFO at Nordics-focused real estate private equity firm Slättö.

Before this, Andersson was CFO at Cint Group, a Swedish software development company. He also held several senior roles with the listed Swedish investment business Kinnevik and worked for Banque Invik Luxembourg Filial.

"I’m looking forward to collaborating with the talented team at Evolution to further strengthen the company’s financial position and continue delivering value to its stakeholders," Andersson commented on LinkedIn.

Carlesund gave Andersson an eager welcome: "I am very much looking forward to working with Joakim. He has a strong background as an accomplished CFO. He will strengthen our team and help the company take the next steps in its development."

Martin Carlesund

The appointment follows the news that the UK Gambling Commission has launched a review of Evolution’s operating license. Last month, the Commission said it found Evolution games were being provided to unlicensed operators in the UK. Evolution vowed to cooperate fully with the investigation.

The group has already "taken requested immediate action to remedy the situation". Content has been taken down from an illegal website while Evolution said it will actively work with the Commission to resolve the issue. The UK accounts for roughly 3% of Evolution’s reported revenue.

Furthermore, last month, the Pennsylvania Gaming Control Board (PGCB) fined Evolution $25,000 for failing to save surveillance video at a live dealer studio for two days. Evolution, which operates a Philadelphia-area studio, failed to save the required footage due to a power outage resulting in a computer server interruption.

The PGCB also fined Evolution $7,500 for an incident in 2023 after a man managed to bypass several security checkpoints to enter its Philadelphia-based studio, which led to police being called to the studio.