- Appointments follow announcement of proposed split of MTG
- Reflect ambition to develop and expand MTG’s portfolio of hyper growth global digital companies
The new MTG (Modern Times Group MTG AB) will comprise MTG’s current esports (ESL, DreamHack and ESEA), online gaming (InnoGames and Kongregate) and digital video content (Zoomin.TV, Engage Digital Partners) operations, as well as other minority holdings (Comosa AG and BITKRAFT). MTG will be well funded and will focus on developing and expanding its portfolio of hyper growth global digital companies through a flexible buy and build strategy, which will be centred around key digital entertainment verticals.
The two new leadership appointments for the new MTG are:
- Peter Nørrelund, MTG EVP, Head of Product Development and Incubation, and Co-CEO of DreamHack. Peter Nørrelund takes up his new position at MTG from 1 July 2018, and his new position as DreamHack Co-CEO with immediate effect. At DreamHack, the global esports events and production company, Peter Nørrelund will work alongside the company’s current President and CEO Marcus Lindmark and will bring extensive experience from his previous engagement at ESL. Peter Nørrelund is currently EVP and CEO of MTG Sport and will continue to be an advisor to the President and CEO of Nordic Entertainment Group after the split, focusing on the company’s sports rights portfolio.
- Johan Levinsson, MTG Group General Counsel. Johan Levinsson is currently Head of Legal – M&A and Corporate Legal Affairs at MTG. He has extensive and relevant legal M&A experience and has been involved in MTG’s M&A activities since joining the company in February 2017. Johan Levinsson takes up his new position from 1 July 2018.
As previously announced, Jørgen Madsen Lindemann will be President and CEO of the new MTG and Maria Redin will be CFO. Additional new leadership appointments will be announced in due course.
Jørgen Madsen Lindemann, MTG President and CEO: “Peter Nørrelund and Johan Levinsson have both played key roles in building MTG’s position as a leading global digital entertainer. Their experience and passion will be instrumental as we develop and expand our portfolio of hyper growth global companies in esports, online gaming and digital video content.”
About the split of MTG
On 23 March 2018 it was announced that the Board of Directors of MTG has decided to initiate a process to split MTG into two companies – Modern Times Group MTG AB and Nordic Entertainment Group – by distributing all the shares in Nordic Entertainment Group to MTG’s shareholders and listing these shares on Nasdaq Stockholm.
The Board intends to propose the distribution and listing of the shares at an Extraordinary General Meeting of its shareholders during the second half of 2018. The Board’s final proposal will be subject to the previously announced combination of MTG’s Nordic Entertainment and MTG Studios businesses with TDC Group not being completed.
More information about the split can be found here.
NOTES TO EDITORS
MTG (Modern Times Group MTG AB (publ)) is a leading international digital entertainment group and we are shaping the future of entertainment by connecting consumers with the content that they love in as many ways as possible. Our brands span TV, radio and next generation entertainment experiences in esports, digital video content and online gaming. Born in Sweden, our shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).
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