Michael Holmberg dismissed as Raketech appoints new CEO
Chief operating officer Oskar Mühlbach appointed CEO and president of the Malta-based affiliate with immediate effect
Raketech has appointed COO Oskar Mühlbach as its new chief executive after CEO Michael Holmberg was relieved of his duties with immediate effect.
Former Mr Green COO Mühlbach was appointed in the COO position at Raketech back in April, having previously spent one year at the Malta-based affiliate firm as a senior advisory consultant.
Mühlbach – who will also serve as the new president of Raketech – will play a significant role in developing the company’s strategy for future expansion alongside the board of directors.
Raketech chairman of the board Christian Lundberg said: “Oskar has a clear vision of how Raketech will develop towards becoming a global partner to players in the egaming industry.
“With his excellent skills in the company’s core business, I am confident that we will ensure the right balance between organic development and expansion.
“As we now enter a new phase in the company’s development, I am convinced that he is the right person to execute on our strategy and to lead the company through the challenges that we and the entire industry experienced in 2019,” he added.
Holmberg oversaw Raketech’s corporate rebrand during nearly three years in the top job, having previously worked for Bethard Group and PokerStars.
The Malta-based affiliate firm’s share price fell by 16% in Q3 after reporting a double-digit decrease in both revenue and EBITDA.
Former Raketech CEO Michael Holmberg
Lundberg said: “Michael has been a driving force in the transformation of a young and fast-growing company into one of the market’s leading players in affiliate marketing.
“He has also been a leader in the process of preparing and taking the company public on Nasdaq First North Premier Growth Market.
“I am very grateful for his efforts and wish Michael the best of luck in his future career.”