Raketech Parts Ways with CEO Mühlbach over Strategic Disagreements

Leading online affiliate and content marketing specialist Raketech announced that Oskar Mühlbach will depart from his role as chief executive officer. The company cited strategic disagreements between Mühlbach and the board as the reason for this departure but pointed out that all parties agreed to this development.

According to Raketech’s announcement, Mühlbach had different views on the strategic direction of the company and agreed to depart. He has been with the company since December 2019.

In the meantime, Johan Svensson, Raketech co-founder, chief commercial officer and former board member, will take on the role of acting CEO until a permanent substitute has been hired.

Svensson, for reference, stepped down from the company board in October 2023, opting to instead focus solely on his CCO role. Svensson served as the CEO of the company until 2017 and has the experience necessary to serve as interim head of the company until a suitable successor has been appointed.

According to Raketech’s announcement, Svensson assumes the role of acting CEO with immediate effect. This leadership change comes almost a month after the appointment of Dalia Turner as the company’s chief people officer.

Chair Bengtsson Thanked Mühlbach for His Contributions

Ulrik Bengtsson, Raketech’s board chairman, commented on the matter, praising Mühlbach for his incredible service. Bengtsson applauded the outgoing CEO’s leadership qualities, saying that he led the company through an important strategic transformation and a growth journey.

As Mühlbach and the Board of Directors have different views on the strategic considerations for the Company going forward, we have agreed to part companies. The Board is confident in appointing the co-founder and former Board member Johan Svensson to lead the company until a new permanent CEO is in place.

Ulrik Bengtsson, chairman, Raketech

Bengtsson thanked Mühlbach for the company’s success over the past years.

Following this announcement, the company’s shares plummeted but Raketech reassured investors that the leadership change will not change its FY 2023 guidance. For reference, Raketech is trading for SEK 17.42 per share as of the time of this writing.