Kaaren Hilsen, the chief financial officer of Sweden’s Betsson, is to leave the company to rejoin Norwegian telecommunications giant Telenor. 

Hilsen joined Betsson in April last year to replace outgoing finance chief Fredrik Rüdén, having served as CFO of Telenor’s Swedish business since 2013. 

She will now return the telecommunications business as its chief executive, following the end of her six-month notice period with Betsson. 

“I would like to thank Kaaren for her contribution in getting Betsson back on track,” Betsson CEO Pontus Lindwall said. “I respect that she has received an offer she couldn’t refuse and wish her all the best for the future. Betsson is a stronger company than it was a year ago and I am sure that we will soon recruit a new CFO who wants to be part of taking Betsson to the next level.”

The search for Hilsen’s replacement will begin immediately, Betsson added.