Following six years at the forefront of Scout Gaming Group, Andreas Ternström is relinquishing his position as CEO.
The Swedish business leader assumed the role of CEO and President in 2016 but has opted to depart in anticipation of a “substantial reorganization” within the company.
Scout Chairman Niklas Braathen hinted at “difficulties” while expressing appreciation for the departing CEO’s contributions but affirmed that “the present time is opportune for Andreas’s departure from the company.”
These difficulties likely stem from Scout’s fiscal standing, which has been adversely affected by the Ukrainian crisis. The company experienced a 20% decline in gaming revenue during the initial quarter.
“Representing the company, I wish to convey our sincere gratitude to Andreas for his significant input in developing the Scout Gaming organization, particularly the product portfolio Scout Gaming currently possesses,” Braathen stated.
“The company is navigating a phase of obstacles, and its operations are poised for considerable restructuring and transformation. In light of this context, we have mutually determined that now is the appropriate juncture for Andreas to move on from the company.”
Ternström, in turn, conveyed his appreciation to his coworkers, especially those based in Ukraine. He commented: “I want to express my thanks to all associates, staff members, the board, and the proprietors for this period.
I am immensely pleased with our committed group in Ukraine. Their fortitude over the last couple of years, confronting the health crisis and the conflict, has been genuinely remarkable.
Although my position is shifting, I’m not going away. I’ll continue to be an investor and maintain close ties. I’m eager to witness what lies ahead and to keep championing the company’s expansion.”