Cherry’s Anders Holmgren Steps Down As CEO

June 1, 2018 by

CEO and President of Cherry, Anders Holmgren, will be ending his employment at the company, as the Board of Directors decided, as a whole, to terminate his contract with the group. The process of finding a new CEO has already started, and for the time being, Board member and chairman of the Audit Committee Gunnar Lind will be acting as CEO until a new one has been found.

According to the chairman of the Board, Morten Klein, Holmgren is lo longer performing his duties, and is facing serious accusation of insider trading. The Stockholm District Court has since detained him due to the accusations. An investigation lead by the Swedish Economic Crime Authority has been started, and they were the group that requested that Holmgren be detained by the court.

The Nordic gaming company saw a financial report released in the third quarter that showed a negative trend in profits, which was thought to be because of integration difficulties. Then, in the first quarter of April this year, Cherry began to show incredible profit margin growths as well as forecasts, beating expectations set by analysts.

It didn’t take long for suspicion to start to grow in the company after figures rose by 26%, hitting a high of $76.55 million in less than three months. Investigators when discovered that the CEO has bought a number of shares some weeks before the Q1 reports were revealed, and that he helped manipulate the numbers for the company’s financials.

TOP pokies casinosJune 2018
#CasinoNZRatingBonusPlay
1 IE allowed5/5$1000 NZD Play now
Review
2 IE allowed4.9/5$1600 NZD Play now
Review
3 IE allowed4.8/5$350 NZD Play now
Review
4 IE allowed4.7/5$750 NZD Play now
Review

William Bettany

More About

William Bettany has spent a lot of time in New Zealand’s casinos, indulging in his passion for pokies both online and off. With an incredible array of experience and insight at his disposal, William is sharing all the hottest casino news with PokiesOnlineNZ.net.nz, and paving the way to players putting more money away at the end of the day.
William’s on-target advice, superior playing experience, and no-nonsense reporting have made sure his opinions are listened to, and he values sharing the news and his views, reviews and industry insights with others.

View Posts - Visit Website