NetEnt Makes Johansson Permanent CFO

Staff Writer Industry News, NetEnt 3,199

Leading provider of digital casino solutions, NetEnt, has announced that Lars Johansson has been appointed as the permanent chief financial officer, the role he has previously held on interim bases.

Johansson held the position of interim CFO since 3 September, 2018.

The CFO role at NetEnt has been vacant before that from 22 May when Therese Hillman was appointed as Group’s CEO.

An Experienced Presence

Lars Johansson has huge 30-year-long experience in both public and private companies.

He had numerous management positions in various sectors the latest being as acting CEO and then as Senior Investment Director at Ratos AB, the Swedish private equity company. His previous engagements include CFO of Swedavia AB, CFO/COO of TV4 Group AB and CFO/COO and acting CEO of Orc Software AB. After a thorough search, Lars has now taken the reins permanently as NetEnt’s CFO.

Therese Hillman, the NetEnt group CEO, said in a statement: “I am very pleased to appoint Lars Johansson as chief financial officer. He brings significant experience to the role and has already played an important part in the ongoing change process of NetEnt.”

Optimising Operations

The news came just a week after NetEnt announced cuts in its head office in Stockholm. The company is making the necessary steps to optimize its operations and is in the midst of restructuring process.

First job cuts include 55 full-time positions are mostly in Stockholm and within corporate support functions. The reorganization is expected to reduce costs and scale up the production line. The resources will be reallocated to increased game production and virtual reality project. The company has already forged few deals to offer virtual live casino including Ninja Casino and Bethard.

“The new organisation will have clearer responsibilities and more emphasis on value-creating initiatives.”

“We are pleased to see the performance of our new game releases so far in the fourth quarter as we continue to diversify our game portfolio. Going forward, we increase the pace of output and expect to release 30 to 35 new games in 2019,” Therese Hillman commented.


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