Modern Times Group (MTG), the parent company of both ESL and DreamHack, today announced a pair of new leadership appointments.
Maria Redin, currently the Group Chief Financial Officer, has been promoted to Group President and CEO effectively immediately. Lars Torstensson will take on her former duties as the new CFO.
Redin commented in a release: “I am both humbled and proud to take on this new role and lead MTG at a time of both challenges and great opportunities. The company has a strong legacy of innovation and transformation, with many talented people and world class portfolio companies. We are uniquely positioned to deliver on our mission to become the home of esports and gaming entertainment.”
Redin joined MTG in 2004 and has held various financial leadership roles. She has been a member of the company’s Group Executive Management team since 2015, and also was previously CEO of its closed Bet24 company.
Her appointment comes just over a month after MTG President and CEO Jørgen Madsen Lindemann submitted his letter of resignation to the board. Lindemann had served in the role since 2012 and been with the company for 26 years in total. His contract called for him to remain with the company for up to 12 months while MTG sought a successor, and he will remain with MTG as an advisor until that notice period concludes.
Meanwhile, Torstensson currently serves as EVP, Communications & Investor Relations and will retain that role while adding CFO duties to his plate. Torstensson has only been with MTG since 2019, joining after holding senior management roles with Sweco AB and Tele2 AB.
David Chance, Chairman of MTG’s Board of Directors, added: “I would like to congratulate Maria on her appointment as Group President and CEO of MTG. She has proven herself over many years at MTG to be a strong and inspirational manager. She knows our business extremely well and, although the Board considered a number of excellent external candidates for the role, her background and skillset were felt to be an excellent fit against the criteria and requirements that the Board considered in making its decision. She is highly respected by her colleagues in our portfolio companies and the continuity she provides will allow MTG to continue to build and strengthen our gaming and esports businesses.”
Esports Insider says: It’s good news for MTG to have sorted this rapidly and not have a question mark hanging over the company leadership for an extended period of time. Redin has the experience and already knows the company culture well, so she should be ready to take the reins immediately and help MTG continue to navigate these tricky times.