Stefan Lundborg has resigned from his position as Non-Executive Director of the Kindred Group with immediate effect.
According to a statement on the Kindred website, Lundborg's resignation is linked to an ongoing investigation by the Swedish Economic Crime Authority into internal crime.
The operator said there were no further details for the investigation at the moment, but was fully cooperating with the investigation.
"The resignation of Stefan Lundborg was inevitable given the investigation conducted against him by the Swedish Economic Crime Authority," commented Anders Ström, chairman of the board of Kindred.
"The management would like to emphasize that no suspicions of misconduct were presented to any other representative of the company, or to the company itself."
It was announced on Wednesday that Ström would not be running for re-election at Kindred's annual general meeting next year.
The executive said it intends to spend more time managing its investments by stepping down from its role within the company as it approaches 50's birthday.
Ström founded Unibet, the original Kindred brand, in 1997 as a telephone bookmaker focused on the Swedish market.
In 1999, Ström restructured Unibet by launching English-language and Swedish websites before becoming president of the company in 2000.