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GCA Announces Appointment Of Ram Chary As Chief Executive Officer Effective January 27, 2014

Stocks in this article: GCA

LAS VEGAS, Jan. 27, 2014 (GLOBE NEWSWIRE) -- Global Cash Access Holdings, Inc. (the "Company") (NYSE:GCA), a global provider of innovative cash access, cash handling solutions and business intelligence services for gaming establishments, today announced Ram Chary has been appointed as the Chief Executive Officer of the Company and as a Class III director to the Board of Directors of the Company. David Lopez resigned from his role as President and Chief Executive Officer of the Company and as a member of the Board of Directors of the Company, effective as of January 27, 2014, to pursue a new career opportunity. 

From 2007 to 2013, Mr. Chary served in various roles at Fidelity National Information Services, Inc., most recently as an Executive Vice President of Global Commercial Services. Mr. Chary previously led the technology division of Fidelity National Information Services, Inc., a banking and payments technology company. Prior to joining Fidelity National Information Services Inc., Mr. Chary led the Professional Services organization of eFunds Corporation, a payments services company.   Prior to eFunds, Mr. Chary worked at IBM Global Services in infrastructure outsourcing and technology consulting. 

"Ram has a proven track record in growing retail payments and financial services businesses. The Board of Directors and I have the highest confidence in his leadership skills and capabilities and look forward to a bright future of growth and success for GCA," said E. Miles Kilburn, Chairman of the Board.

2013 Outlook

The Company reaffirms its Adjusted EBITDA and Cash EPS estimates for the year ended December 31, 2013 as previously disclosed in its Current Report filed on Form 8-K on November 5, 2013 with the Securities and Exchange Commission. 

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements included in this press release, other than statements that are purely historical, are forward-looking statements. Words such as "going forward," "believes," "intends," "expects," "forecasts," "anticipate," "plan," "seek," "estimate" and similar expressions also identify forward-looking statements. Forward-looking statements in this press release include, without limitation, our belief that the upcoming succession of our Chief Executive Officer will be seamless.

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