Bally Technologies Inc. Announces Leadership Transition
Srinivasan Promoted to President and CEO; Haddrill Becomes Chairman of the Board
Bally Technologies Inc. had a big announcement mid-November that signifies a change in its company’s leadership. Ramesh Srinivasan, current president and chief operating officer, will become president and chief executive officer, and board member effective Dec. 31, 2012.
When Srinivasan assumes his new post, current Chief Executive Officer Richard M. Haddrill will then 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 its share price almost fourfold.
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 been well-positioned to capitalize on the convergence of the games and systems businesses, as well as emerging mobile and i-gaming platforms. Previously, he was a senior executive at supply chain software company, Manhattan Associates Inc.
Richard M. Haddrill
Richard M. Haddrill
“I am honored to be the next president and chief executive officer of Bally at such an exciting time in our company’s 80-year history,” Srinivasan said. “We are on a very good track for the coming years. I am very enthusiastic about the many opportunities I see to serve existing customers, expand our customer base, continue to provide growth opportunities for our people and increase shareholder value.”
Kevin Verner, current chairman, said: “The board of directors is very pleased with the direction of the company and our succession planning process. We value the strong executive team at Bally and the close working relationship between Ramesh and Dick, which we expect to continue.”
A new leadership for a new year.