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PartyGaming Looking for New CEO

Current CEO Leaving Because He Doesn't Want to Live in Gibraltar

by Bob Pajich  |  Published: Mar 01, 2006  |  

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PartyGaming, the company that owns PartyPoker.com, PartyBingo.com and PartyCasino.com, is searching for a new CEO.

Richard Segal, the current CEO, will leave the company by mutual consent on or before June 1. Segal has been with PartyGaming since August of 2004. During his tenure, PartyGaming's revenue's grew to $978 million in 2005 and the company completed a successful IPO float in which it joined the FTSE-100 index.

According to a press release, Segal commuted to Gibraltar during his tenure, but both he and the Board of Directors now agree that the CEO needs to live there.

After talking with his family, he decided to move on.

 
 
Tags: ftse 100,   gibraltar,   mutual consent,   partygaming,   ipo,   tenure,   ceo,   board of directors,   press release
 
 
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