Tobias Fagerlund has stepped down as CEO of Global Gaming 555 AB, leaving the company with immediate effect. 

Fagerlund was initially appointed acting CEO of the Swedish company in April 2019, after the abrupt departure of Joacim Möller, and took on the role permanently in June 2019. 

He soon found himself steering the company through troubled waters, engaging in a protracted fight with Swedish regulators, after the company lost its license and its flagship Ninja Casino was forced to exit the critical Swedish market.

The loss of the license and subsequent fallout led to a dramatic drop in revenue in mid-late 2019.  

Announcing the news, Niklas Braathen, Chairman of the Board, said the company is now “facing a new phase” and needs to strengthen its position. Despite this, Fagerlund is expected to continue to advise the Global Gaming Board for some time. 

Former Board member, Christian Rasmussen, has been appointed acting CEO of Global Gaming until a new permanent CEO is found. 

Commenting on Fagerlund’s departure, Rasmussen said:

“It is my opinion that during his time as CEO, Tobias led Global Gaming in a very meritorious way. He has completed one large part of our restructuring measures and demonstrated a strong and clear leadership that was absolutely necessary for the company. Tobias has therefore with great success laid a good foundation for Global Gaming’s future operations.”

AYO.NEWS says:

After all the stress and drama of the last year, we’re guessing Fagerlund won’t miss being CEO too much! As for Global Gaming, a fresh start maybe just what it needs right now. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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