Swedish Kindred Group Keeps Losing Executives

Kindred Group, the Swedish gaming operator, has recently confirmed that two of its top executives, Chief Marketing Officer Elen Barber and Chief Commercial Officer Anne-Jaap Snijders, have resigned from their positions in the company. Barber and Snijders were leading a review of Kindred’s commercial and marketing operations along with former CCO and current interim CEO Nils Andén. However, following the conclusion of this process, both executives opted to exit the business, with Kindred stating that they will leave in the autumn.
These resignations are the latest shakeup in Kindred’s senior leadership, following the recent news of CEO Henrik Tjärnström and CFO Johan Wilsby’s resignation. Nonetheless, Kindred stated that Barber and Snijders’ departures are not connected to the CEO and CFO’s resignation. In response, Barber said, “I’m proud to have played my part in Kindred’s success over the past 13 years… It’s now the right time for me to move on to fresh opportunities ahead.” Meanwhile, Snijders added, “I had a great time at Kindred… The pinnacle was to receive the Dutch license and build up market leadership with the local teams.” Kindred paid tribute to both executives, saying, “Both AJ and Elen have made huge contributions to Kindred’s success over the last decade, and we thank them for their dedication and leadership.”
According to a report by iGB in July 2022, Kindred has reached out to various companies to explore the possibility of a sale. The list of potential buyers includes prominent European gaming operators like Entain, 888, and Tipico, as well as private equity firms such as Apollo Global and Blackstone. Corvex Management, an activist investor with a 15% stake in the company, has been advocating for a sale. To address the underwhelming performance in the fourth quarter of 2022, Kindred had announced a strategic review in April, which could lead to a merger, sale, or partial sale of the business. This information is delivered in a professional tone by the writing assistant.
Published on: 24th May 2023