Stillfront has dismissed its founder and CEO, Jörgen Larsson.
Stillfront’s board of directors has now initiated the hiring procedure for an unused CEO, appointing former president of publishing and business acceleration Alexis Bonte as interim CEO during the interim period.
Chairwoman Katarina Bonde mentioned that while Stillfront’s monetary position “remains strong,” the board has “concluded that new leadership is the way forward.”
“The efficiency measures we have taken continue to support increased profitability and cash flow generation remains strong, as does our financial position,” Bonde said. “This very week, Stillfront has significant work ahead to strengthen the company’s expansion and achieve the cost savings reported in reference to the announcement of an unused control structure with operations divided into three business areas.
“This is a new phase in Stillfront’s journey, and for this work to be pushed forward offensively and at full force, the Board has concluded that new leadership is the way forward for Stillfront.”
The former CEO added: “I am very happy with the move Stillfront has made and with the prominent place the company occupies today. Stillfront has a professional team and the right strategy with better opportunities for the future. I will be able to continue being an important shareholder and proceed to exercise the company intensively.”
The company mentioned that it has reached this resolution “in light of Stillfront’s announcement in September 2024, which presented a new group management structure with operations divided into three business areas, aimed at improving organic growth, profitability and transparency”.
“The goal is also to increase focus on key franchises and address underperforming games,” Stillfront mentioned in a comment.
“These optimization activities will be fully implemented in the fourth quarter of 2025 and are expected to generate annual cost savings of 200 to 250 MSEK compared to annualized costs in the second quarter of 2024.”
