Michael Rumbolz is to become executive chairman of casino technology supplier Everi Holdings Ltd, according to a Wednesday press release. He will be replaced in the chief executive post by Randy Taylor, currently the firm’s chief operating officer. Mr Taylor will also be appointed to the company’s board of directors. All appointments will be effective April 1, 2022.
Mr Rumbolz had been serving as Everi’s chairman and CEO since the retirement in mid-May of Miles Kilburn.
Wednesday’s release quoted Ronald Congemi, Everi’s lead independent director, as saying: “The company’s appreciation in market value, the significant growth we have achieved across our business and the culture of collaboration and innovation that exists at Everi today all directly reflect Mike’s leadership.”
Mr Rumbolz served as Everi’s CEO since February 2016, having previously served as a member of the board since 2010.
Mr Congemi noted that Everi’s market capitalisation had “increased from US$168 million” at the time Mr Rumbolz’s appointment in February 2016 “to approximately US$2 billion today.”
The independent director said additionally that Mr Taylor had “consistently assumed additional leadership and operations responsibilities” during his more than 10 years with Everi.
“We are very fortunate to have a talented executive in Randy who is capable of seamlessly stepping into the CEO role to continue to lead and advance the strong growth trajectory and momentum the company has established over the last several years,” stated Mr Congemi.
Mr Taylor has served as Everi’s president and COO since April 2020, having previously been executive vice president, chief financial officer and treasurer since March 2014. He joined Everi in November 2011 as senior vice president and controller.
In November, Everi raised its previous guidance for full-year 2021 results. The company said it expected net income in the range of US$98 million to US$100 million, and adjusted earnings before interest, taxation, depreciation and amortisation between US$342 million and US$346 million.
