Board Resignations At Online Casino Group
By Brian Cullingworth, Last updated Aug 31, 2018
Cherry directors resign amid probe into insider trading
The sudden and surprising departure of Anders Holmgren, CEO of the Cherry online gambling group, earlier this year has been followed by the resignations of two board members amid reports of an investigation into insider trading involving the company.
Swedish media reports late last week noted that directors Anna Bergius and Claes Ruthberg have resigned with immediate effect, with a Cherry statement advising:
“Both board members concluded that their decision is the best alternative for the company given the current situation.”
Press reports recall that the Swedish Economic Crime Authority visited Cherry’s offices in May and subsequently arrested Holmgren, whose responsibilities were assumed by Gunnar Lind, chairman of the audit committee (see previous InfoPowa reports).
Cherry’s remaining four directors have commenced a search for replacements for Bergius and Ruthberg.
Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.
We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.
His passing in February 2019 was a dark day for us. He will be forever missed.