Patrik Hofbauer to Leave Svenska Spel for Telia Company
LISTEN TO THIS ARTICLE:Svenska Spel, the Swedish gambling operator, has announced that Patrik Hofbauer is to leave his role as president and CEO next year.
Hofbauer has been at the helm of Svenska Spel for close to five years, having joined in December 2018. He is departing on 31 January 2024 to become president and CEO of the Swedish telecommunications company Telia Company and will begin his new job on 1 February 2024.
Svenska Spel Launches Search for Successor
The gambling operator has said that it is already looking for a replacement and Erik Strand, the chairman of Svenska Spel, has thanked Hofbauer for his work at the company.
Through his solid knowledge, great commitment and brilliant leadership qualities, Patrik Hofbauer has successfully led Svenska Spel for some time through major changes for the company. Svenska Spel is today a modern company that delivers sustainable gaming experiences. Patrik’s personal leadership has navigated Svenska Spel through the reregulation of the gaming market in 2019 and he, together with the board and his team, has set a clear future agenda and strategy. Patrik is a person and company leader who makes a real difference. On behalf of the board, I’d like to extend a warm and big thank you for his valuable contribution.
A Return to Telecommunications for Hofbauer
Prior to starting at Svenska Spel, Hofbauer was the CEO of Norwegian Telco Telenor for more than four years. Before that he was CEO of Telenor Broadcast and he also spent some time as CEO of the Swedish division of the advertising company Clear Channel.
Together with his work at Svenska Spel, Hofbauer sits on a number of boards including as president of Presto Holding, and at Clas Ohlson, NHST Media Group and Svenskt Näringsliv.
In recent years, I have had the privilege of leading Svenska Spel. It has been a fantastic journey together with our customers, partners and, not least, employees. It is not an easy decision to change roles or leave a company that I value so deeply. With a strong culture, a clear values compass and enormously committed employees and leaders, Svenska Spel is in a position to continue delivering value for our customers, Sweden and the Swedish sports movement.
Hofbauer’s Legacy at Svenska Spel
Svenska Spel is due to post its Q3 results later this month. However, during his time at the company he has redirected its focus to online gambling and the results have been impressive. In H1 2023, net gaming revenue was up year-on-year to SEK1.97 billion despite increased competition. Online revenue was up 9% year-on-year and it now accounts for 52% of the company’s total revenue.
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