Cherry AB seeks new board as governance shrinks

Stockholm-listed online gambling group Cherry AB has confirmed the departure of Anna Bergius and Claes Ruthberg as members of the Board of Directors with immediate effect.

Their decision to depart Cherry’s governance follows the Swedish Economic Crime Authority’s confirmation that both board members will be investigated in connection with ‘insider trading allegations’ charged against former Cherry AB CEO Anders Holmgren.

Both Bergius and Ruthberg have mutually decided to terminate their governance contracts with Cherry AB, acting in the best interest of the Stockholm enterprise and its current situation.

The resignations see Cherry AB reduce its current board to four active members.

In the corporate update, Cherry Executive Chairman Morten Klein informs investors that he is working alongside the firm’s Nomination Committee in undertaking an executive search for new governance advisors.

Furthermore, Klein and corporate governance continue the leadership search for Anders Holmgren’s Chief Executive replacement.

At present Cherry AB group leadership duties are being fulfilled by interim ‘acting CEO & President’ Gunnar Lind.