Board Resignations At Online Casino Group

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.