Bally Technologies, Inc. (NYSE: BYI)
- RAMESH SRINIVASAN PROMOTED TO PRESIDENT AND CHIEF EXECUTIVE OFFICER
- RICHARD HADDRILL BECOMES CHAIRMAN OF THE BOARD
- KEVIN VERNER TO BECOME LEAD INDEPENDENT DIRECTOR
- COMPANY TO HOST CONFERENCE CALL TODAY AT 4:30 P.M. EST
Bally Technologies, Inc. (NYSE: BYI), a leader in slots, video machines, casino management, interactive applications, and networked and server-based systems for the global gaming industry, announced today that Ramesh Srinivasan will become President and Chief Executive Officer and Board Member effective by December 31, 2012.
Current Chief Executive Officer Richard M. Haddrill will become Chairman of the Board. Haddrill joined Bally as Chief Executive Officer in 2004, after serving as Chief Executive Officer of two successful public companies. Under his leadership Bally has doubled revenues and increased the share price almost four fold.
Haddrill commented, “Ramesh and I have been great business partners over the past 13 years across two companies and these changes reflect the continued natural evolution of our roles and responsibilities. We have built a deep group of leaders at Bally and Ramesh has proven his ability to lead the team.”Srinivasan joined Bally in 2005 as Executive Vice President of Systems and was responsible for shaping Bally’s Systems business into the industry leadership position. He was promoted to President and Chief Operating Officer in March 2011, assuming leadership for worldwide games, systems, and customer service. Under Srinivasan, Bally has positioned itself well to capitalize on the convergence of the games and systems businesses as well as emerging mobile and iGaming platforms. Previously he was a senior executive at supply chain software company, Manhattan Associates, Inc.
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