Raketech confirms Johan Svensson as CEO after five-month interim stint
The Malta-based affiliate has announced a new permanent CEO five months after Oskar Mühlbach's departure
Raketech has confirmed the appointment of Johan Svensson as its permanent chief executive officer (CEO).
Svensson, who co-founded the igaming affiliate in 2010, previously served as CEO up until 2017, before transitioning to the role of CCO tasked with overseeing business partnerships as well as M&A.
Since January, Svensson has been Raketech’s acting CEO following Oskar Mühlbach’s exit. The company’s board of directors and Mühlbach mutually agreed he would step down from the top job, citing “different views on the strategic direction of the company” as the reason behind his departure.
Alongside his role as Raketech CEO, Svensson remains a director at both Gameday Group and Bethard Group, two firms he also co-founded in 2016 and 2012, respectively.
Raketech chairman Ulrik Bengtsson expressed his delight at the announcement and made clear Svensson has already shown he has what it takes to guide the affiliate as CEO on a permanent basis.
“We are excited to officially name Johan as our permanent CEO,” Bengtsson said. “His deep connection and commitment to Raketech and proven leadership abilities make him the ideal choice to steer the company into its next phase of growth.”
Svensson’s skillset to “consistently drive innovation” as well as years of experience in both technology and gaming were also highlighted as key factors behind his appointment.
The returning CEO echoed a similar sentiment and issued an optimistic look to the future, while adding that the firm’s focus will not alter as a result of this latest news.
Svensson said: “I am excited to return to the role of CEO at Raketech. I look forward to working with our talented team to build on our strong foundation and drive further innovation and growth.
“Our focus will remain on delivering exceptional value to our customers, employees and shareholders.”
Raketech recently published the firm’s Q1 2024 financial results, reporting a 67% year-on-year decrease in operating profit of €1.2m (£1m), a stark contrast to Q1 2023’s return of €3.8m.
Reflecting on the results, Svensson remarked: “We remain confident in our market-leading product offerings and see promising growth opportunities through our strategic initiatives in sports offerings, exclusive partnerships and media deals.
“These efforts will position us well for continued growth in the coming years, and we remain committed to maximising shareholder value.”
Arnold Ash is EGR’s Executive Recruitment Partner. They support ambitious organisations to identify and attract industry leading executive talent. Find out more here.