In a sudden change to its senior management, Scandinavian gaming firm Cherry AB has made Fredrik Burvall Acting CEO, replacing Emil Sunvisson.
Burvall has been with Cherry since 2006 serving as Vice President and CFO, while Sunvisson has served Cherry in the capacity of CEO and as a member of the board for eight years.
The company revealed that Sunvisson will continue working for Cherry, as an advisor in a number of strategic areas, for a ‘limited period of time’.
Chairman Rolf Åkerlind said: “Cherry’s long-term strategy is generating continued growth in online gaming, both through organic growth and acquisitions, with the goal of reaching profitability in this area as soon as possible. This means that the duties of the management team in Stockholm have changed. Therefore, the Board has decided to select Fredrik Burvall as Acting CEO, while Morten Klein will begin working closely with the management team in Malta on issues related to business development and partnerships.
“I would like to extend our appreciation to Emil Sunvisson for his time as CEO. Emil has played a critical role in turning Cherry into a gaming company that is well-positioned for the future,”
Klein, who is the company’s largest shareholder, has been parachuted into the online business operation in Malta in a new role in Business Development and Partnerships. Klein will be working closely with Cherry’s management team in Malta. Klein has significant expertise and experience in online gaming. He is one of the founders of AutomatGruppen, a business Cherry acquired in 2010.
The business areas of Online Gaming and Yggdrasil Gaming have, in line with Cherry’s stated goals, become increasingly important for the company. During Q3 2014, online gaming generated sales worth SEK 52.9m, which represents approximately 59 percent of Cherry’s total revenues.