Kambi confirms appointment of Anders Ström as Chair of the Board

The leading business-to-business provider of sports betting services powering operators across the globe, Kambi Group plc, announced changes to its senior-level team. Earlier this week, the company confirmed that Lars Stugemo, its long-serving Chair of the Board, has taken the decision to step down. He notified Kambi's Nomination Committee that he doesn't plan to seek re-election for his role at the upcoming Annual General Meeting (AGM), scheduled for 2024.

In light of Stugemo's notice, the company's Nomination Committee confirmed it will propose its co-founder, Anders Ström, to be appointed for the role of Chair at the Kambi AGM 2024. Additionally, Kambi's Board of Directors also confirmed the appointment of Ström as Chair. This appointment is with immediate effect until the upcoming AGM and comes after Stugemo's notice to step down. A statement released by Kambi explains that Stugemo will no longer be a part of the company's Board but will continue to serve as a member of the Nomination Committee.

Sharing his excitement about the recent announcement, Ström said: "Lars has made many important contributions to Kambi’s development to becoming the world’s leading sportsbook provider and, as both a founder and shareholder, I am very grateful for the journey we have undertaken together and wish him all the best in his future endeavors."

Moreover, he added: "I am honored to have been asked by Kambi’s Board to become its Chair and look forward to leading the Board of a company which is showing real commercial momentum through recent partner signings and redefining what is possible in sports betting through significant technological breakthroughs including AI-powered trading." According to Ström, those achievements underline Kambi's strong position within the gambling sector and position the company well for further growth and expansion.

The company's outgoing Chair, Stugemo, also commented: "After 14 years of an inspiring journey with Kambi, including almost a decade as Chair, I have decided, after careful consideration, not to stand for re-election next year." He acknowledged the importance of transferring his responsibilities to another expert as soon as possible. "In this case, both I and Kambi are fortunate that Kambi’s co-founder Anders Ström is also a member of the Board and is ready to immediately take over as Chair," added Stugemo.

Undoubtedly, Ström is the perfect fit for the Chair role, considering his extensive experience within the gambling sector. Back in 1997, he founded Kindred Group and in 2010, he co-founded Kambi together with CEO Kristian Nylén. Since the company was founded, Ström has been a member of its Board. Considering that he is a current member of the Board and Nomination Committee, Ström did not participate in the discussions regarding his nomination and appointment, Kambi confirmed.

Image credit: Pixabay.com