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Evolution has announced that CFO Jacob Kaplan will be leaving the group, with real estate private equity finance chief Joakim Andersson set to take from 18 February 2025.
Kaplan, who previously worked for Nordnet Bank in a similar position, joined Evolution in 2025 and has been CFO since 2016, a role he has held for over nine years. Kaplan will also remain in an advisory position for the company for a short period.
Andersson will have significant ground to cover, as he lacks extensive experience in the gambling industry. His professional background includes senior roles in various financial firms, with his most recent position being CFO at the real estate investment company Slättö. Before that, he was the financial chief at Cint Group, a software development company based in Sweden, and worked for Banque Invik Luxembourg Filial and Kinnevik, a Swedish investment business.
Speaking on Linkedin, the new CFO said, “I’m looking forward to collaborating with the talented team at Evolution to further strengthen the company’s financial position and continue delivering value to its stakeholders.”
A Challenging Road Ahead for Andersson
In a press release published by the iGaming giants, CEO Martin Carlesund paid his tribute to the outgoing CFO, while expressing confidence in Andersson’s ability to continue the company’s progress.
Carlesund said, ”I want to thank Jacob for his work and contribution to the development of Evolution into the group we are today. He has been an integral part of our management team and played a key role in our expansion and mission to improve the company each day. We wish him all the best in the future.”
He added, “At the same time, I am very much looking forward to working with Joakim. He has a strong background as an accomplished CFO and will strengthen our team and help the company take the next steps in its development.”
Andersson’s appointment comes at a time when the company is facing challenges regarding the evolving regulatory environment and sluggish growth of its RNG division.
Last December, the UK Gambling Commission announced that it had launched a review of the company’s license. This followed a report showing that some of Evolution’s games were made available to certain operators who lacked proper licensing.
The month also saw the release of a report from Swedish-based reporting site Josimar, accusing Evolution of providing services to several Asia-based operators promoting their services without authorization across Europe. Some of these operators were linked to sponsorships with UK Premier League teams, raising red flags about compliance and brand integrity.
Compounding these issues, third-quarter results indicated that approximately 40% of Evolution’s business came from Asia, a region now fraught with challenges. The Gambling Commission issue is also significant as 3% of the company’s revenue is from the UK.
Source: iGamingBusiness
