Unibet founder to stand down from Kindred Group

Ström has informed the operator’s nominations committee of his decision and, in a statement said he had promised himself to step back from business to spend more time on family, friends and leisure pursuits after turning 50.

“By informing the Nomination Committee that I will not stand for re-election at the AGM of 2021, I will thus be able to start fulfilling this promise before I turn fifty, on Friday the 4th,” he said.

“Kindred has undertaken a fantastic journey during the 23 years that have passed since I founded its most well know brand, Unibet, and has developed into a great company with almost 30m customers, 1,600 employees, and with excellent further opportunities of growth with the right strategies and focus.

“Hence, I look forward to taking part of such a growth in value as an owner and investor.”

Kindred nomination committee chairman, Evert Carlsson described Ström as “an important and inspiring asset to the board of Kindred”.

“[He] has provided it with in depth knowledge of the industry and contributed to a stable and competent board.”

Results published in October showed that Kindred had experienced record growth in the third quarter of 2020, as gross winnings revenue was shown to be up 24% year-on-year to £280m.

It said underlying earnings before interest, tax, depreciation and amortisation (EBITDA) for the three months to 30 September was estimated to be in the range £73-75m, around double the EBITDA of £37.2m from Q3 2019.