Anders Ström, co-founder of Kambi Group, has been appointed as the new chair after Lars Stugemo decided to step down from his role after almost a decade. Stugemo’s resignation is effective immediately and he will not be seeking re-election at the Kambi AGM in 2024.
However, Stugemo will continue to be a member of the Nomination Committee as nominated by Veralda Investment, Kambi’s largest shareholder. Stugemo expressed his gratitude for the 14 years he has spent with Kambi, stating that he felt it was time to pass on the leadership role to someone else.
Anders Ström, who has been involved with Kambi since its inception, will take over the role of chair until the AGM, where his appointment will be officially proposed. Ström co-founded Kambi with CEO Kristian Nylén in 2010 and has been a board member for over 13 years.
Ström expressed his honor at being chosen as the new chair and is looking forward to leading the board of a company that has been making significant strides in the sports betting industry. He also acknowledged Stugemo’s contributions and wished him the best for the future.
The announcement of Ström’s appointment comes on the heels of positive Q3 results for Kambi. The company experienced year-on-year revenue growth of 15% and an increase in net profit by 34.6%. CEO Nylén expressed confidence in Kambi’s progress and believes it is on track to achieve its long-term financial targets, which include a revenue of 2-3 times FY2022 levels and an EBIT in excess of €150m. This robust growth further solidifies Kambi’s position in the sports betting market.