Stockholm-listed Global Gaming has confirmed that Joacim Möller has resigned as Chief Executive of the company with immediate effect.
Issuing a market update, Global Gaming confirms that company director Tobias Fagerlund has been appointed ‘acting CEO’, replacing Möller on a temporary basis.
Fagerlund has been a member of the Global Gaming board since 2016. In its update, the operator confirmed that an executive search has been undertaken to find Möller’s long-term replacement.
The announcement sees Global Gaming call for its second leadership search in less than a year, as Möller himself replaced former CEO incumbent Stefan Olsson last April.
Updating investors, Global Gaming stated that the company needed to make significant changes in order to adjust to new regulatory demands within its home market of Sweden.
“It is the Board’s opinion that Global Gaming is a fundamentally strong company with great potential to continue to be a significant player in the Swedish market. In order to succeed, the company’s adaptation to be further intensified. It is the Board’s opinion that the extensive work and the way forward needs new leadership.”
In its latest trading update, Global Gaming governance blamed an increase in Swedish regulatory costs for creating a company slowdown, which would see the operator undertake a new review of balances and costs.