Danish esports organization Astralis announced Tuesday that CEO Anders Hørsholt has stepped down from the role to become a strategic advisor to the company and a member of the board of directors, while former chairman of the board and founder Nikolaj Nyholm, will return to the position of CEO. While both Hørsholt and Nyholm issued statements related to this shift in roles, it is unclear why the former CEO has returned to take on the role again.
Hørsholt will initially step in as an associate member of the board and he will be nominated by the main shareholders and the existing board at the upcoming general meeting on April 9, while Nyholm will take on his new role as CEO immediately.
Nyholm said the following in the company’s announcement:
Anders Hørsholt has been the key figure in relation to building our business and organization. In a period characterized by a pandemic and in a challenging market, the company has delivered on its financial promises and today stands on a solid foundation and I am glad that Anders remains part of the business as a strategic advisor and on the board.
In connection with our strategic review of the company’s activities, we have, among other things, sold the majority of our LEC rights for a significant amount, we have completed a delisting of the company, and we have secured a good stepping stone in relation to further development of the business.
On a personal level, I am looking forward to re-entering as CEO of a business and organization that 8 years ago helped to power the development of esports as mainstream entertainment and which today in Denmark is as much youth culture as it is a team sport. The potential in Astralis is greater than it has ever been, and I am looking forward to, together with a strong organization, dreaming big and realizing new ambitions.
Hørsholt noted in the announcement:
First of all, I am happy with the way the change is happening and the timing of same. I am proud of having served 4 years as the CEO of one of Denmark’s most interesting sports and entertainment brands and of the development the business and the organization have gone through during my time. We stand on solid ground, ready to take the next big steps, and with his background, personality and in-depth knowledge of the industry and Astralis, Nikolaj Nyholm is the right man at the helm.
Our business is equal parts esports at international top level, casual gaming, and entertainment. The ever-evolving industry offers a lot of possibilities, but also a great need to make the right choices. In a market in constant motion, it is of paramount importance to be able to constantly adapt the strategy, and in my role as strategic advisor and a part of the board, together with the rest of the board and the CEO, I look forward to contributing to our further development as a brand and business.
On Aug. 8, 2023, the then publicly-traded Danish esports organization held an “Extraordinary General Meeting” to let shareholders decide if the company would delist from the Nasdaq First North Growth Market Denmark. Following that vote company shareholders voted to delist the company and become a privately-owned entity.
Astralis currently competes in Counter-Strike 2 with both all-male and all-women rosters, and is the home to a line-up of Counter-Strike 2 content creators. It also competes in Fortnite and EA Sports FC 24. In October of 2023 it sold its LEC slot to Karmine Corp.