Cherry C.E.O. Dismissed By Board Of Directors (Update)

Anders Holmgren’s troubles grow following insider trading charges

In an announcement by its board of directors Friday Cherry Group AB said that it has “terminated the employment of Anders Holmgren as CEO and President of Cherry effective immediately.”

Company chairman Morten Klein acknowledged the contribution Holmgren has made during his fifteen month tenure as CEO and President, but said that the board has found that he would not be able to perform his duties in the present circumstances.

The board has appointed former Cherry CEO and audit committee chairman Gunnar Lind as acting CEO pending a search for a replacement for Holmgren, which has already begun.

The decision to fire Holmgren comes after several days of drama in which the online gambling executive was accused of insider trading following his arrest at the company’s head office in Stockholm by the Swedish Economic Crime Authority (see previous InfoPowa reports).

Holmgren’s severance includes his responsibilities as a member of the board in subsidiaries such as Yggdrasil. He has denied any wrongdoing.

He remains in custody after he was denied bail by the Stockholm District Court.

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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.

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