Cherry AB CEO Fredrik Burvall resigning for “family reasons”

Nordic online betting operator Cherry AB is on the hunt for a new chief executive after its current CEO bowed out due to “family reasons.”

On Tuesday, Cherry announced that Fredrik Burvall (pictured) “will leave his role as CEO due to family reasons.” Burvall, a 10-year veteran at the company, has agreed to stay on until “summer 2017.” Cherry board member Anders Holmgren will serve as acting CEO until Burvall’s permanent replacement can be found.

Cherry’s official statement quoted Burvall saying he was “extremely proud” of his role in building Cherry into an online force to be reckoned with, and a company “well positioned for the future with five strong business areas all with strong management teams.”

Cherry chairman Rolf Åkerlind said he and the rest of the board were “extremely grateful” to Burvall for presiding over the company “during a busy period when the company has expanded rapidly and been very successful.” Åkerlind noted that Cherry’s turnover had grown 137% over the past two years, a period that saw Cherry make seven acquisition deals.