CFO Johan Wilsby, who announced his resignation a matter of days before Tjärnström, was the first domino to fall, but iGaming NEXT understands he is also set to stay on in his role until autumn.
With four resignations in such quick succession, just five members of Kindred’s previously nine-strong executive team are set to remain with the business.
Those members include new CEO Nils Andén, who was promoted to the top job after serving as CCO for region two (Snijders is CCO for region one).
Others set to remain in the firm’s C-suite include CPO Erik Bäcklund, chief HR officer Rachel Randle-Williams, chief legal and compliance officer Ewout Keuleers, and CTO Sören Thörnlund.
With reference to the resignations of both Barber and Snijders, Kindred suggested the duo had decided to stand down following the completion of a review of the company’s commercial and marketing operations, which was initiated in H2 2022 and led by the two executives alongside Andén.
Kindred insisted the decisions were not related to the resignations of CEO Tjärnström or CFO Wilsby, but investors will continue to question the timing with Kindred currently engaged in a strategic review.Commenting on her decision, outgoing CMO Barber said: ‘I’m proud to have played my part in Kindred’s success over the past 13 years.
“Our fantastic global marketing team has built a solid foundation upon which Kindred can continue to grow in competitive and exciting markets. It’s now the right time for me to move on to fresh opportunities ahead.”
Outgoing CCO Snijders added: “I had a great time at Kindred. It has been a fantastic journey working out of the Sydney, Malta and Amsterdam office with extremely talented colleagues.
“The pinnacle was to receive the Dutch licence and building up market leadership with the local teams.”
In an interview published over the weekend, Kindred founder and former chairman Anders Ström offered his two cents on the latest developments taking place within the business.
He suggested that Tjärnström’s resignation was a foregone conclusion, given that “what the board wants to do and what Henrik wants to do are not in agreement with each other.”
That comment was made in reference to the strategic review underway at the business, driven by activist investor and largest shareholder Corvex Management.
The review will see Kindred consider options for a sale of the business.
“The option to sell does not seem to have gone down well with Henrik Tjärnström and so he has to drop out,” Ström told Swedish financial newspaper Dagens industri (DI).