The European eSports organization Astralis has announced that its current CEO, Anders Hørsholt, has stepped down from his duties to become Strategic Advisor to the Board of Directors. As a result, the company has elected founder and former CEO, Nikolaj Nyholm, to replace him.
Hørsholt has been CEO of Astralis for the past four years and has been at the helm of the company during a difficult time. In the first two years of his tenure, the industry was marred by the pandemic, but despite this, Astralis managed to show an increase in revenues and a decrease in losses in its 2022 financial report.
In the past year, Astralis has undergone extraordinary changes. In August, the board of directors held a general meeting at which a delisting from NASDAQ was approved and, according to the Astralis website, the company would officially cease trading on October 25, 2023. The decision was made following a “strategic review” by the Astralis Group board following a sustained fall in its share price in early 2023.
I am happy with the way the change is happening and the timing of it. I am proud of my four-year tenure as CEO of one of Denmark’s most exciting esports and entertainment brands, and of the development the business and organization have undergone during my tenure.
Anders Hørsholt, new Strategic Advisor to the Board of Directors.
On the other hand, Nikolaj Nyholm was CEO of the esports organization until 2020.. The Danish entrepreneur has founded seven technology and video game start-ups.the most recent being the video game studio Scattershot. Note that Nyholm is also one of the founders of esports tournament organizer BLAST. Since 2020, he has served as chairman of the board of Astralis and will now become CEO again with immediate effect. The former, Hørsholt, will step in as an associate board member until he is appointed by the major shareholders and the existing board at the next general meeting on April 9, 2024.
On a personal level, I am looking forward to re-joining as CEO of a business and an organization that eight years ago helped drive the development of esports as mainstream entertainment and that today in Denmark is both youth culture and team sport. The potential at Astralis is greater than ever, and I am looking forward, together with a strong organization, to dream big and realize new ambitions.
Nikolaj Nyholm, new CEO of Astralis