Jim Ryan, the co-Chief Executive Officer of bwin.party, has announced his plans to retire from the role and return to Canada with his family.
He will retire on January 15th, and on the same date his fellow co-CEO, Norbert Teufelberger, will assume the new role of Group CEO.
Simon Duffy, Non-Executive Chairman said: "Having lived and worked in Gibraltar for the past six years, initially as CEO of St Minver, Jim joined PartyGaming as CEO in June 2008. Following the merger with bwin Interactive Entertainment AG in March 2011, he became co-CEO of the enlarged group.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Together, he and Norbert have been instrumental in overseeing the integration of both companies as well as the launch into a number of newly regulated European markets and driving the group's strategy to re-enter the US should appropriate legislation be enacted. As the merger integration approaches its final stages, and having secured a series of strategic partnerships including MGM, Boyd Gaming, United Auburn and Zynga, Jim now wants to return to Canada with his family.
"The transition to regulated markets is continuing and we are entering a period of intense product and technology innovation that will now be led by Norbert Teufelberger, whose experience, as one of the pioneers in online gaming, is probably unrivalled."
He added that: "Together with Norbert, Jim has been a driving force behind the merger. His expertise and passion for the group's gaming products have been instrumental in ensuring that the merger integration has proceeded as planned, putting the group in an excellent position to remain at the forefront of the global online gaming market."
NR
-
How taking a two-year career break could leave a £26k hole in your pensionCareer breaks are increasingly common but it is important to take steps to protect your pension, as gaps compound over time
-
Cash in on your attic: Thousands could be sitting dormant in your storageSelling your valuables at auction could be far more lucrative than you think. We take a look at how auctions work, and some tips to help you maximise your profits
