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Mar 20, 2023

Viaplay Group CEO Anders Jensen Steps Down

Kristin Brzoznowski 2 days agoTop Stories Jørgen Madsen Lindemann has been

Kristin Brzoznowski 2 days agoTop Stories

Jørgen Madsen Lindemann has been appointed as the new CEO of Viaplay Group as Anders Jensen steps down.

Viaplay Group has downgraded its short-term outlook for 2023, citing lower demand in the Nordic and international streaming D2C subscriber markets and lower wholesale subscription sales by linear distribution partners; the accelerated deterioration of the Scandinavian TV and radio advertising markets; and the slower delivery of cost savings programs. In addition, transactional FX headwinds have increased and are not expected to recover until the end of the year.

As a result of the challenging and uncertain macroeconomic environment, as well as the appointment of the new CEO, the board of directors has also decided to withdraw its 2025 operating and financial targets.

Pernille Erenbjerg, chair of the board, said: "The outlook for the markets in which we are operating has shifted considerably and at a very rapid pace, and the execution of cost savings programs has not been mitigating the effects from these conditions to a sufficient extent. The impact of the macroeconomic headwinds on the business require that we execute differently on our strategy. With more than 30 years of experience in the entertainment industry and leading Nordic and International businesses, we are confident that Jorgen has the right profile to lead this work. The overall strategic direction of the company is unchanged, and Jorgen, together with the board and his leadership team, will evaluate the need for structural, operational, and capital allocation enhancements to the delivery of the strategy."

"Anders Jensen has been the CEO of Viaplay Group since it was formed as an independent company in 2018 and has led the achievement of significant milestones for the group, including the development of our unique content offerings. On behalf of the board, I want to thank Anders and wish him the best of luck in his future endeavors."

Jensen said: "It has been a privilege and an honor to be on the team making Viaplay Group into the forward-leaning and future-focused company that it is today. I remain confident of the success that lies ahead for the company. But I also feel that, in the light of current challenges, the company is best served if I step down, and I have therefore decided to do so. I wish the company and the team the very best in the future."

Madsen Lindemann added: "I know Viaplay Group well and have, of course, followed the company's journey closely over the years. I am passionate about the Group's tremendous potential. I am very much looking forward to the opportunity to be part of leading Viaplay Group through the currently challenging times and delivering on the next phase of its development."

Madsen Lindemann is the former CEO of MTG, which is the previous parent company of Viaplay Group. Prior to becoming CEO of MTG, he held various senior leadership positions at MTG for over 26 years, including head of the Nordic operations and international operations and head of sports rights acquisition and production.