Kindred Group is losing its indorse executive director this calendar week inwards a go that power bring up certain flags at the gaming company. Just years after it was announced that CFO Johan Wilsby would go forth the company, CEO Henrik Tjarnstrom has resigned, efficacious immediately.
In a pressing resign from this afternoon, Kindred said that its gameboard of directors had received and accepted Tjarnstrom’s resignation. He had been at the helm of the troupe since 2010.
No understanding for the sudden and unexpected going away was given. Kindred added that it has already appointed Nils Anden meanwhile CEO, a stone's throw upward from his role as Chief Commercial Officer (CCO).
Changing of the Guard
Wilsby’s going away is expected to come in sometime this fall, according to the company’s earlier announcement. He had served as Kindred’s CFO since 2020 and, ilk with Tjarnstrom’s departure, no reason out was granted for the exit.
There was no previous denotation that Tjarnstrom mightiness leave, but it is apparently something that was existence discussed in arrears shut doors. Chairman Christine Marie Evert Carlsson provided a statement near his departure, thanking him for his “valuable contributions” and wishing him success in the future.
In announcing Anden’s ascension, Carlsson stated that the table views him as the right on conniption for the job, precondition his extensive knowledge of Kindred’s operations. Anden has been the CCO since 2020, having returned to the keep company after a four-year break.
Prior to that departure, Anden held various roles with the keep company when it was noneffervescent in the first place known as Unibet. He led Business Development from 2006 to 2007, was the Head of Poker from 2008 to 2009 and eventually moved upwardly to Chief Marketing Officer from 2012 to 2016.
In between his ii periods with Kindred, Anden was noneffervescent alive(p) in the gaming industry. He was the Director of Digital Marketing at GVC Group, which later became Entain, from Sep 2017 to December 2019.
In addition to his put to work with Kindred, Anden, who studied business concern at the Stockholm School of Economics, is also a non-executive theater director of EasyPark Group, a parking and urban evolution innovation company. He’s held that view for o'er four and a half years.
Trouble Ahead?
While there’s no denotation of incommode forwards (Kindred added inward its press out liberate that it isn’t ever-changing its counseling for the year), losing a CEO and CFO inwards taking over is often a troubling sign. There could follow to a greater extent to the departures than the troupe wants to lead-in on.
Researchers lastly year provided an assessment of the sudden resignation of a CEO linked with the quick arrangement of an meantime CEO. They suggested, according to Firing and Hiring the CEO: What Does CEO Turnover Data Tell Us About Succession Planning?, that the combined actions often stand for that the CEO didn’t resign, but was fired.
In substantiating the conclusion, the researchers added that, inwards many cases, a resigning CEO testament remain on the entity’s plank or retire. A CEO who is forced out, however, breaks all ties with the company.
Another consider from 2013, The Effect of CEO and CFO Resignations on Going Concern Opinions, reaches similar conclusions. It posits that “the resignation of a top out executive director increases a firm’s likeliness of failure.”
Jim Cramer, the innkeeper of CNBC’s Mad Money, believes a sudden leaving of cay executives is a concern, as well. He has repeatedly said that they’re cerise flags and “when the chiefs resign, maybe you should, too.” The latter is a proposition that investors may want to count pulling out of a troupe when Florida key executives all of a sudden leave.
None of these are conclusive evidence that Kindred is facing difficulty. However, it’s of import to catch what might come in next.
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