Raketech has nominated Kathryn Baker as its new Chair of the Board following the departure of Ulrik Bengtsson to Sun International.
The affiliate has also put forward the founder of Casumba Media, Magnus Alebo, as a new member of its Board of Directors. Both roles, as well as the exit of Bengtsson from the board, will be effective from 30 July 2025.
Johan Svensson, CEO of Raketech, commented: “On behalf of everyone at Raketech, we are delighted about Kathryn’s proposed appointment as Chair of Raketech and welcoming Magnus to the Board.
“Their leadership experience and deep sector expertise will be a significant asset, and I look forward to working with both of them as we focus on executing our strategy and delivering sustainable growth for our shareholders.”
Proven leadership
Baker brings with her 25 years of experience across private equity, venture capital and public company boards.
In particular, she served as Chair of Catena Media for four years between 2016 and 2020, as well as sat on the board of Gaming Innovation Group between 2021 and 2023.
According to Raketech’s nomination committee, the addition of Baker will provide the company with “proven leadership and deep expertise” as it seeks to return to growth.
Meanwhile, Alebo founded the Japan-focused Casumba Media in June 2016 before selling the company to Raketech for €2m in 2019. He subsequently joined Raketech in April 2024 as the company’s Business Development and Interim Head of Japan.
He has also previously worked in senior marketing positions at Mr Green and William Hill.
Raketech divests non-core US tipster assets
The duo join the Raketech board at a time when the company is continuing to cut costs following struggling financial performances.
Last week, Raketech announced the divestment of its non-core US tipster and subscription business for a total consideration of €1.25m. Previously, it had divested its US offline advisory sales operators for a total fee of €2.1m in July 2024.
According to Svensson, the decision supports Raketech’s commitment to financial discipline by discontinuing operations in areas outside our key commercial strengths. Cost savings following the divestment are forecast to be €150,000 per month.
Last month, the company reported a near 50% drop in revenue during the first quarter of 2025, citing a 48% drop in new depositing customer numbers, particularly among its SubAffiliation business unit
