Yggdrasil Gaming has transitioned to a new leadership era, as company founder Fredrik Elmqvist has called time on his decade long tenure as Chief Executive of the games publisher and online casino solutions provider.

Effective today, Elmqvist has been succeeded by Björn Krantz as CEO, who has been promoted from his former position as Chief Officer of Global Market Operations.

Following a decade in charge of Yggdrasil, Elmqvist stated that it was the right time to ‘hand over the helm’ of the company that has become ‘the most reputable and established global igaming publisher powerhouse in the industry’.

“Björn is well known to the industry as his delivery track record is amazing and he has been a successful executive leader in rapid global growth environments for a very long time,” Elmqvist commented on his successor.

“In the past two years, Björn has been heavily involved in shaping and building Yggdrasil’s global market operations, as well as being a key contributor to the company’s growth strategy and execution planning.”

Krantz was named as the outstanding candidate to lead Yggdrasil, having proven his leadership qualities by spearheading the group’s global growth strategy and as a former COO of rival games publisher NetEnt.  

Commenting on his appointment, Krantz said: “It’s with great humbleness I am taking over as CEO after Fredrik. I have enormous respect for the history, company legacy and its awesome culture.

“It’s all about the people and building strong and winning teams, and it’s a great pleasure for me to have such talented and motivated people around me every single day.

“We have a clear strategy, and together with the rest of the management team I look forward to delivering on our global growth ambitions, and to further strengthen our position as the leading iGaming publisher and premium global iGaming solutions provider.”

Yggdrasil confirmed that Elmqvist would maintain an active role in the company as a board member providing leadership and strategic oversight.

In 2012, Elmqvist had been recruited by Cherry AB to establish a games development/publishing unit for the former Nordic Nasdaq gambling and leisure group.

During his tenure as CEO of Yggdrasil,  Elmqvist expanded the company’s tech resource to cover all core components of online casino gambling, moving Yggdrasil beyond its games publishing remit. 

The success of his strategy would see Yggdrasil separated from owner Cherry AB, following the firm’s €1 billion buyout by London-based private equity fund Bridgepoint. A spin-off was deemed necessary to maximise Yggdrasil value within the online casino market.  

Elmqvist reflected: “The time is now ripe to execute on this transition and it’s a great day for the Board, myself, and the entire company to see Björn take over the helm. I am confident that he will do great in propelling the business forward and take it to the next level.”