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Cryptologic, New Chariman
Robert Stikeman, longtime chairman of online gambling software provider Cryptologic is to step down from his position, although he will continue to servce the company as a non-executive director. On June 3 2009 at the annual shareholders meeting Stikeman will be replaced by accountant and investment executive David Gavagan, the company announced this week.
Gavagan will become the group's independent non-executive chairman. He is a fellow of the Institute of Chartered Accountants in Ireland, who joined CryptoLogic's board as an independent non-executive director in June, 2008. Gavagan has more than 29 years of boardroom experience at many public and private companies, and was the co-founder and managing partner of a private equity fund.
"I am honoured to succeed Robert Stikeman, who helped pioneer the Internet gaming industry and provided strong leadership as CryptoLogic's chairman for the past six years," Gavagan said. "As CryptoLogic enters a new stage of its development, today's announcement reflects our continued commitment to the highest standards of corporate governance and to long-term value for our shareholders."
CryptoLogic also announced that it proposes to appoint James Wallace as an independent non-executive director at the annual meeting, increasing the total number of independent directors on the board to four.
Wallace is a fellow of the Institute of Chartered Accountants in England & Wales, and has extensive experience as a public company director. He is currently chairman of Scapa Group plc, the senior independent non-executive director and audit committee chairman of NCC Group plc, and a non-executive director of the Manchester Airport Group. In the past, he has served as chairman of Bodycote International plc, senior independent non-executive director of Holidaybreak plc, chairman of Sigma Capital Group plc and chairman of the audit committee of Sanctuary Group plc.
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Gambling News :
Pokerstars Bahamas Main and High Roller Results -
The inaugural PokerStars Championship Bahamas saw two big winners crowned this weekend when Christian Harder won the main event for $429,664 and Luc Greenwood took home $779,268 after taking down the $25,750 High Roller event.
High Hopes For Pennsylvania Online Gambling -
Pennsylvania state politicians have wasted no time in getting back to work in the new legislative season, and there is renewed hope for a gambling expansion bill that includes online gambling and daily fantasy sports.
NJ Warns No Federal Online Gambling Ban -
New Jersey Senator and gubernatorial candidate Raymond Lesniak warned that any attempt to overturn a 2011 Department of Justice opinion that the federal Wire Act exclusively governs sports betting would be met with a hard-nosed reaction from his state.
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