Patrik Hofbauer, current CEO of Swedish state-owned gambling company Svenska Spel, is stepping down from his role and is slated to undertake the top leadership position at Telia Company, a prominent Swedish telecommunications entity. Svenska Spel confirmed that the transition will occur on January 31, 2024, marking the end of Hofbauer’s tenure that commenced in December 2018. While Svenska Spel is actively seeking a suitable successor, Hofbauer firmly believes that the firm is well-positioned to continue thriving in the future.
Hofbauer’s departure from Svenska Spel signifies his exit from the gambling industry, which he has served diligently for five years. His illustrious career includes leadership roles at numerous firms, including telecommunication giant Telenor, Telenor Broadcast, and Clear Channel. In addition, Hofbauer’s expertise and experience have earned him membership on the board of directors of several organizations such as Clas Ohlson, NHST Media Group, Svenskt Näringsliv, and Presto Holding.
Commenting on his departure, Hofbauer emphasized that making the decision to leave Svenska Spel was challenging. However, he expressed confidence in the company’s future, applauding its strong corporate culture and commitment to results. He also conveyed excitement about his upcoming venture as Telia’s CEO and expressed readiness to further hone the company’s digital transformation strategy.
Erik Strand, Chairman of Svenska Spel, praised Hofbauer’s immense contributions to the firm. He acknowledged the outgoing CEO’s leadership during the reorganization of the Swedish gambling market in 2019 and his commitment to delivering sustainable practices and concrete results, leading to the modernization of Svenska Spel’s operational approach.
Hofbauer will officially assume the role of CEO at Telia Company on February 1, 2024, as Svenska Spel prepares its Q3 earnings report scheduled for later this month.