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US – Everi votes to remove President and CEO Ram Chary

By - 18 February 2016

Everi Holdings, the gaming entity to be formed by the merger of Global Cash Access and Multimedia Games, has replaced its CEO with a long-time board member whilst it looks for a permanent replacement is found.

Current Director, Michael Rumbolz, will take on the role of Interim President and Chief Executive Officer. The Board has formed a search committee to identify a qualified candidate to serve as the company’s permanent CEO.

The Board voted to remove Ram Chary from his positions as the company’s President, CEO and Board member, effective on February 13, 2016.

“While this was a difficult decision, the Board believes this move is in the Company’s best interest,” said E. Miles Kilburn , Chairman of the Board.

The Board will consider internal and external candidates for the role, and expects to hire a CEO who has a strong track record of success.

“Our search committee is working diligently to identify a qualified successor for the role of permanent CEO, and during the interim I will work directly with our talented executive team to ensure there are no disruptions to our daily business operations,” said Mr. Rumbolz. “I will continue to execute the existing corporate strategy in our Games and Payments businesses for the gaming industry, and given the strength of our offerings and the market opportunities available to us, I feel confident about our long-term potential to drive growth and shareholder value.”

Mr. Rumbolz has been a member of Everi’s Board since August 2010. He most recently served as an independent consultant to Everi and previously was the Chairman and CEO of Cash Systems, a competitor of Everi that was acquired by the Company in 2008. Mr. Rumbolz is also the former Vice Chairman of the Board of Casino Data Systems , and was previously the President and CEO of Anchor Gaming. Additionally, he has served as the Chairman of the Nevada Gaming Control Board , and is the former Chief Deputy Attorney General of the State of Nevada .

Everi is dedicated to providing video and mechanical reel gaming content and technology solutions, integrated gaming payments solutions and compliance and efficiency software.


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