Fable Media has shaken up leadership structure, with CEO Alexander Petterson stepping down from the role and replaced by head of operations Carl Magnusson.
Petterson initially joined the Danish affiliate as CFO in December 2017, before taking on the dual role of CEO the following June. He remains finance chief.
Magnusson joined the firm as SEO and Swedish country manager in August 2015, before stepping up to affiliate manager a year later and then becoming head of operations in October 2021. He will remain in the operations role as well as taking on CEO duties.
Taking to LinkedIn to explain the decision behind stepping down, Petterson wrote: “After a number of rewarding years as CEO, I’ve stepped down from the role and will continue as CFO while also pursuing other opportunities outside the company.
“I want to thank everyone at Fable Media, including my colleagues, the board of directors, business partners and shareholders, for the trust, support and collaboration over the years.
“Together, we have transformed the company into a highly profitable and financially stable business, and I’m looking forward to continuing to contribute to Fable Media as CFO.”
Commenting on the leadership shake-up, Fable Media board member Frederik Cardel Falbe-Hansen said it was “natural step” to bring the CEO role closer to “day-to-day marketing operations”.
“Alexander Pettersson has done an excellent job leading Fable Media over the past eight years,” he said in a statement. “Under his leadership, the company has established a strong financial foundation, successfully restructured its bond financing, improved its financial reporting and governance, and introduced a shareholder-friendly quarterly dividend policy.
“At the same time, Fable Media is entering a phase where operational execution and growth initiatives are becoming increasingly important.
“With the company’s financial structure firmly in place, it is a natural step to bring the CEO role closer to the day-to-day marketing operations.
“Carl Magnusson has extensive industry experience, deep knowledge of our business and organisation, and a proven track record of delivering exceptional operational results.”
Listed on the Spotlight Stock Market and headquartered in Copenhagen, Denmark, Fable Media was formed in 2022 via a merger between Fable Media ApS and Future Gaming Group International AB.
The brand mainly focuses on promoting online sports betting operators, via a revenue share model.
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The post Fable Media reshuffles leadership team as CEO steps down first appeared on EGR Intel.
Alexander Petterson to continue as affiliate’s CFO while pursuing outside opportunities, with head of operations Carl Magnusson stepping into leadership role
The post Fable Media reshuffles leadership team as CEO steps down first appeared on EGR Intel.