LeoVegas appoints Weder to combined CTO-CPO role

18 February 2019

LeoVegas has appointed former MRG technology chief Mattias Wedar to the newly-created role of chief product and technical officer, which combines the functions of both the chief technology and chief product officer roles.

Wedar will takes on the role having most recently served as chief executive of MRG Gametek, MRG Group's technology development subsidiary.

The Swedish national also previously held various senior roles at Eniro, which offers search services and directory assistance to the Nordic market, and is currently a member of the board at podcast marketplace Acast.

Wedar, who has a Masters in Informatics and Economics from Lund University, will officially begin his new role at LeoVegas during the spring.

“Mattias joins us most recently from a similar role and has solid experience in product development and keen industry knowledge,” LeoVegas said. “With this new position, the product and technology organisation will have a single leader, which will increase its effectiveness and cooperation within the group.”

The move and subsequent appointment comes after LeoVegas last week said it is to postpone its growth targets after a challenging 2018. The operator finished the year with revenue up 51% to €327.8m (£287.3m/$371.4m), but market and regulatory challenges and the decision to undertake strategically crucial projects affected its balance sheet.

Rising personnel costs and other expenses played a role in operating profits falling €19.9m to €19.2m for the full year, although EBITDA was up 61% to €41.6m and gross profit increased 44% to €235.5m.

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