Major gaming entities, Boss Media and PartyGaming have announced the replacement of their respective CEOs: Rahul Parekh will take over as top executive for Boss Media while Jim Ryan will become Chief Executive Officer of PartyGaming. This news come as the last expected headline business move in what has been an unusually active first quarter in the poker and gaming world.
Boss Media, newly purchased and now operated by global gaming firm GTECH, has announced that former head of corporate development in Asia, Rahul Parekh will assume the CEO position currently held by Michael Hallen. This move comes with GTECH likely to integrate Boss Media and its multiple subsidiaries (Poker Heaven most notably) into its growing New Media and Sports Betting division. This statement from a recent Boss Media press release speaks to that effect:
Being integrated with the leading gaming technology and services company GTECH and part of a larger family brings many opportunities for the customers and employees of Boss Media. Our clients will benefit from a larger product portfolio and a stronger international presence; there will also evolve more opportunities for our employees.
Former CEO Michael Hallen broke the news of his departure during this most recent first quarter company review:
I leave Boss Media very proud of what we have achieved together. As I see it GTECH brings stability, growth, internationalization and new significant opportunities to Boss Media.
Hallen’s replacement, Rahul Parekh looks poised to continue his work in engaging the International market, particularly India and China, as well as continue to integrate newly acquired Boss Media with GTECH:
I am excited to take this new challenge on. Our business plan and objectives to continue integrating Boss Media into GTECH and the new division remain.
PartyGaming has also announced a change of CEO: in a May 14th press conference in London, Jim Ryan was announced as the CEO successor to Mitch Garber. On May 16th, Ryan, the former CEO of St Minver Limited – a company which provides European white label internet gaming solutions, – former CEO of Excapsa Software Inc – an AIM listed developer of interactive gaming software solutions – and Chief Financial Officer of CryptoLogic Inc, was officially appointed CEO of the world’s largest gaming brand.
Former CEO and current Non-Executive Chairman, Michael Jackson also announced the promotion of Chief Games Officer, John O’Malia to the newly created Board position of Managing Director. And in a move which surely signals the beginning of a new era for PartyGaming, Mr. Jackson also announced his own forthcoming retirement from the company which he helped put on the map.
Jackson on the changes at PartyGaming:
The Board is delighted to have appointed Jim Ryan after a rigorous search and selection process that considered a broad range of candidates. Jim has a wealth of experience that will be invaluable in steering the Group through its important next phase of development.
Jim's experience, coupled with John O'Malia's proven success in managing PartyGaming's profitability enhancements over the past year, will be a powerful combination in driving the Company forward and continuing to enhance the value and appeal of PartyGaming's brands and gaming products.
While Garber has relinquished his CEO title, both he and Jackson remain onboard at PartyGaming for at least a few more months to aid in this transition process.
All involved parties have been positive concerning these changes. Both Mitch Garber and Michael Jackson expressed deep gratitude to PartyGaming as well as their desire to spend more time with their families in North America.
