Cherry board members resign as insider trading investigation continues
Board members thought to be in connection with the investigation that saw the former CEO detained in May
Two Cherry board members have resigned after being found to be involved with the insider trading charges levelled against former CEO Anders Holmgren.
Anna Bergius and Claes Ruthberg were dropped from the board over the weekend after receiving a notice from the Swedish Economic Crime Authority on suspicion of “crimes committed by them in connection with the investigation”, a statement said.
The statement said the board now consisted of four members and chairman Morten Klein, and was in contact with the Nomination Committee to seek out new members.
The board is in the process of recruiting a permanent replacement for Anders Holmgren, who was ousted in May after being detained by the authorities.
Earlier this month, the operator reported a 41% year-on-year rise in its revenues for the second quarter of 2018, on increased and more effective marketing efforts.
Its online business ComeOn saw second quarter revenues increase by 38%, rising to SEK600.9m (£51.4m), with a rise in EBITDA of 92% during the period.