The chief financial officer of Swedish media heavyweight Modern Times Group (MTG), Lasse Pilgaard, has resigned.

It was announced yesterday (February 20), that Pilgaard – who has only been in the role for 11 months – is stepping down to “explore opportunities closer to his family and home in Copenhagen, Denmark.”

He will serve out a notice period, and the recruitment process for his successor will begin immediately.

MTG has said that Pilgaard will continue to "lead and support the group’s finance, legal, and accounting functions” while a transition takes place.

He joined MTG as chief financial officer in March 2022, prior to which he served in the same position at TDC Group, the Danish telecoms firm.

Maria Redin, group president and chief executive at MTG, commented: “Lasse joined MTG at a critical point in our transformation into a pure-play mobile gaming group. He has been instrumental in charting out our strategy and evolution. 

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"I appreciate everything Lasse has done to contribute to our success since he joined, but also understand his wish to be closer to his family long-term as he continues to pursue his career.”