Veikkaus‘ Chief Financial Officer, Regina Sippel, has left her role at the company after just over five years.
Sippel joined the Finnish gambling monopoly from the now-defunct travel firm Thomas Cook back in 2019, also bringing experience from directorate roles at Tjäreborg.
She started her career as an accountant and progressed into a managerial position at Big Four accounting firm EY’s Helsinki business.
Veikkaus applauded Sippel’s contribution over the past five years, stating that her dedication and commitment to implementing the company’s strategy has been ‘significant’.
“I would like to thank Regina for the energy and enthusiasm she has shared with us,” said Veikkaus Chief Executive Officer, Olli Sarekoski.
“Her positive attitude, even in the most challenging situations, has inspired and driven us forward.”
The company has now started its search for a replacement and Pessi Palomäki, Vice President of Group Reporting, has taken up the role on an interim basis.
Sippel commented: “I am grateful for the trust and everything we have built together.
“I wish Veikkaus and everyone working in the company success in the future.”
Changing times for Veikkaus
The news comes amid an industry shakeup in Finland, with Veikkaus set to face a raft of competition due to re-regulation. The operator has been welcoming of this, however, seeing re-regulation as a necessary measure for Finland to seize control of the market from offshore firms.
The Finnish parliament has approved legislation to replace the current state-monopoly system with a competitive, multi-licence system for online betting and gaming, set to take effect in 2027.
Many operators are already making moves in the jurisdiction ahead of a launch there, including Immense Group and Aland Islands firm Paf. The former has appointed a Managing Director in the country, while the latter has halved its loss limit.
Newly created sportsbook SuomiVeto is also set to enter the market and recently signed a deal with sportsbook solutions giant Kambi.
The C-suite change at Veikkaus adds another layer of uncertainty at a business which already finds itself in a precarious position.