Appoints George Ustinov as new CEO

2020-02-11

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The Board of Directors of Enlabs has appointed George Ustinov as new President and CEO. George Ustinov has been employed by Enlabs since 2017 and is currently active as operational manager (COO) and was previously Enlabs CFO.

George Ustinov, a Latvian citizen, was born in 1989, educated as an economist and worked before his time at Enlabs in the financial industry and at the auditing firm EY.

George Ustinov takes up the new position immediately and succeeds Robert Andersson, who in consideration with the Board, leaves his operational assignments in the Group after two years as President and CEO. The Nomination Committee for Enlabs has stated that it intends to propose this year's upcoming Annual General Meeting to elect Robert Andersson as a member of the Board.

“The Board is very pleased that George Ustinov will lead Enlabs in the future. George has during his time in the Group demonstrated the ability to quickly make and implement decisions, has solid knowledge of the Eastern European gaming markets, and possesses the leadership skills that Enlabs continues to develop." says Enlabs’ Chairman Niklas Braathen, and continues "George understands how one runs decentralized organizations, culture of collaboration and high performance. Together with Enlabs’ management team, he will drive Enlabs’ strategy forward, and be able to deliver long-term value for all our shareholders."

“Being able to hand over the leadership to George after these two years feels extraordinary good. We have worked very closely with each other during this time and with his skills and drive, George is the obvious choice as new president and CEO. Personally, I feel honored to make the best possible contribution to the company's success through active board work.” says Robert Andersson.

“Robert has during his time at Enlabs had very successful results with an extensive and important change work. This has gone according to plan and we have had a mutual dialogue with Robert how he can progress and help the company's continued development. All together we believe that this is the best solution for the company. We thank him for his efforts, and very much look forward to the continued cooperation, now in the board room.”  continues chairman Niklas Braathen.

Now President and CEO George Ustinov says: “I am honored to have the opportunity to take over leadership for Enlabs, which is a fantastic company with very great opportunities. We operate in an industry that is rapidly changing, and our mission is to fulfill our customers' needs and improve the customer experience through digital solutions. I very much look forward to working with all my colleagues in order to create a new bigger and stronger Enlabs.”

 

For more information, please contact:

Enlabs AB

Niklas Braathen, Chairman of the Board

[email protected] / +46 705252777

Adam Jonsson, CFO

[email protected] / +46 738200058

 

About ENLABS

Enlabs stands for Entertainment Laboratories. We are a company that creates entertainment through innovative thinking within three business areas: Gaming, Media and Solutions. The corporate group has offices in Tallinn, Riga, Vilnius, Malta, Marbella and Stockholm. The operating subsidiaries hold national licenses for their operations and the Group employs approximately 200 employees. Enlabs AB (NLAB) is listed at Nasdaq First North Growth Market with Redeye AB as Certified Adviser: [email protected], +46 (0)8 121 576 90.  

For more information, visit enlabs.se

ENLABS AB is obliged to publish the above information in accordance with the EU’s Market Abuse Regulation. The information was provided by the above contact person for publication at 08:30 CET on 11 February 2020.

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