Bally Technologies Chairman Richard Haddrill is returning to his former job as CEO of the Las Vegas-based slots and systems giant, replacing Ramesh Srinivasan.
No reason was given for Mr Srinivasan’s departure. A prepared statement quotes the new chairman, David Robbins, as saying that “The board would like to thank Ramesh for his many years of service to Bally and for his leadership in guiding the company through the acquisition and integration of SHFL entertainment, as well as his exemplary execution in developing Bally’s systems business.”
Bally (NYSE: BYI) completed its US$1.3 billion buyout of SHFL in November.
“I am very proud of our wonderful team and what we have accomplished together during the past nine years at Bally,” Mr Srinivasan said. “I am confident that that the company is extremely well positioned to build on some fantastic opportunities.”
Mr Haddrill moved into the chairman’s seat in 2012 when Mr Srinivasan, who headed Bally’s vaunted systems division, was promoted to president and CEO. Mr Haddrill has been a Bally director since 2003 and served as chief executive from 2004 to 2012. Mr Robbins, most recently the company’s lead independent director, was chairman from 1997 to 2010.
“Dick’s depth of knowledge about our company and our industry is unparalleled,” Mr Robbins said. “We believe that he is uniquely qualified to lead Bally through its next era of growth.”
The company also added a Silicon Valley veteran to the board, Michael A. Klayko, a former CEO of San Jose, Calif.-based Brocade Communications Systems, who will assume his seat effective 1st of July. Mr Klayko also is a former president and CEO of Rhapsody Networks and worked in various management and executive roles for EMC, Hewlett Packard and IBM.
