Isle of Capri Casinos has announced that Virginia McDowell, President and Chief Executive Officer, will retire from the company and the board of directors, effective April 27, 2016.
Eric Hausler, Isle’s Chief Financial Officer, will succeed her as CEO. Arnold Block, Isle’s Chief Operating Officer, will become President and COO whilst Michael Hart, currently the Vice President of treasury and risk management, will be promoted to senior vice president, accounting and treasury and will oversee the company’s financial and accounting affairs.
Robert Goldstein, Chairman of the board, said: “Virginia has made significant contributions to Isle’s development and success. I sincerely appreciate her leadership and wish her all the best in retirement. Eric is an important member of the Isle family with years of experience in the industry and great vision. More importantly, he is passionate about our company and employees. We believe that he is the ideal person to lead the next chapter at Isle.”
“We have an outstanding team and culture at Isle and our balance sheet is one of the strongest in regional gaming,” said Mr. Hausler. “Together they provide a great platform to create value for our shareholders. We will continue to execute on the strategy that has made us successful including differentiating ourselves with friendly and excellent customer service, reinvesting in our properties to drive organic growth, optimizing our marketing programs and remaining vigilant about our cost structure.
“I am excited and thankful to the board for giving me the opportunity to lead Isle,” Mr. Hausler continued. “I am also grateful for the support and mentorship that Virginia has provided to me.”
“It has been an honour and a privilege to lead Isle over the past nearly nine years,” said Mrs McDowell. “This transition comes at a time of strength for Isle. I am extremely pleased with what we have achieved during my tenure at Isle, first as president and chief operating officer and then as president and CEO. I believe now is the right time for me to retire and allow this team to bring new excitement, energy, ideas and perspectives to the company. I want to thank the great people we have working at Isle for their dedication and loyalty to the company. Their hard work has always been – and will continue to be – the cornerstone of Isle’s success.”