Kindred Group Plc has informed investors that company founder Anders Ström will not seek re-election as Non-Executive Chairman.
Lauded as an industry figurehead, in 1997 Ström founded Unibet – Kindred’s original business enterprise – as a telephone betting service to take wagers for Swedish customers
Ström issued the following personal statement on his decision not to pursue re-election: “Some years ago I made the promise to myself that before my 50th birthday, I would start to disengage from the forward positions in the companies that I am invested in, and spend more time managing the investments as such and with my family.”
Foreseeing radical changes for sports betting, in 1999 Ström restructured Unibet’s successful telebetting service by launching Unibet’s first English and Swedish language websites, whilst also expanding the business’ operations in Malta to accommodate change.
In 2000, Ström took the position of company chairman, having established Unibet’s pan-European operations which laid the foundations for the company to list as the biggest online gambling firm on the Stockholm Nasdaq Exchange.
“Throughout the years, Anders Ström has been an important and inspiring asset to the board of Kindred, and he has provided it with in depth knowledge of the industry and contributed to a stable and competent board,” said Evert Carlsson, Chair of the Kindred Plc Nominations Committee.
Looking to the future, Ström reaffirmed his confidence in the Stockholm-listed firm’s long-term growth strategy and future prospects, confirming that he will remain involved in the company as an investor.
“Kindred has undertaken a fantastic journey during the 23 years that have passed since I founded its most well-known brand, Unibet, and has developed into a great company with almost 30 million customers, 1,600 employees, and with excellent further opportunities of growth with the right strategies and focus,” he concluded. “Hence, I look forward to taking part in such a growth in value as an owner and investor.”