Lahcene Merzoug appointed President of Cherry subsidiary ComeOn

The Board of Directors of gaming operator ComeOn Malta Ltd, a subsidiary of Cherry AB (publ) – STO: CHER-B.ST, has appointed Lahcene Merzoug as Managing Director. By mid-July 2018, at the latest, Lahcene will succeed Tomas Johansson, who has been the acting Managing Director since October 2017.

Lahcene Merzoug joins the company from Mr Green, where he was Chief Marketing Officer (CMO). Before that, he worked at Evoke Gaming Ltd, now a part of Mr Green, where he was CMO and Chief Business Development Officer. Lahcene has an extensive background as an entrepreneur and solid experience from the iGaming industry.

“ComeOn is a leading player with a number of well-known brands that inspire our industry, and I am honoured to take over as Managing Director after Tomas Johansson,” says Lahcene Merzoug. “I look forward to continuing to develop the operations to give the company a clear market-leading position and to strengthen our position as the first choice for customers and employees.”

“I’m pleased with what we have achieved within ComeOn in a short period of time, and it’s very gratifying to see ComeOn return as a nimble player, focused on growth with good profitability. Since October, we have worked hard within ComeOn to identify and remedy a number of different areas, allowing us to regain our position as a leading player in the industry. The joint effort allowed ComeOn to report good growth and improved earnings already in the first quarter, as Cherry reported in the preliminary financial accounts communicated on 13 April 2018,” says Tomas Johansson, acting Managing Director of ComeOn.

“Together with the rest of ComeOn’s company management, Tomas has done a fantastic job of quickly reversing the trend within ComeOn, and the company now has more profitable and sustainable operations,” commented Anders Holmgren, Chairman of ComeOn. “Lahcene is the right person to take the company forward. His experience of building growth in organizations and his well-documented marketing skills will give us a smooth transition and take ComeOn several steps ahead,” Anders Holmgren continues.

As an adviser within the Cherry Group, Tomas Johansson will, in part, assist Lahcene and others in ComeOn’s management team during a transitional period and, in part, he will help strengthen and broaden Cherry’s market position in gaming, media and entertainment.

For further information, please contact:

Anders Holmgren, CEO: +46 708 607 534, [email protected]
Anders Antonsson, IR & Communications: +46 709 994 970, [email protected]

This information is information that Cherry AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above on 25 April 2018, at 10:30 a.m. CET.

CHERRY IN BRIEF:

Cherry is a Swedish innovating and fast-growing company with operations in gaming, entertainment and media. The company was established in 1963 and today operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,400 people and has about 6,700 shareholders. The company’s class B share is listed on the Nasdaq Stockholm exchange, Mid Cap segment. More information is available at www.cherry.se.