Electronic table game (ETG) specialist Interblock says John Connelly has stepped down from his role as chief executive with effect from Wednesday.
Mr Connelly (pictured in a file photo) had been appointed global CEO in January 2015, having been previously on Bally Technologies Inc’s executive committee.
Interblock said in a statement issued from its base in Mengeš, Slovenia, that its board had appointed Bala Ganesan as interim CEO, “while a comprehensive search is conducted for a permanent successor”.
Mr Ganesan is a former interim chief operating officer at the company, and a managing director at Oaktree Capital Management LP.
Oaktree-related investment funds own a majority of the equity interests in Interblock.
The interim CEO was cited as saying in a Wednesday announcement on the management rejig: “Interblock is exceptionally well positioned for continued growth, underpinned by a talented team, industry-leading innovation, and strong customer partnerships.”
Mr Ganesan added: “I am honoured to support the company during this transition and remain focused on serving our customers and partners.”
Mr Ganesan joined Oaktree in 2017 from Yum! Brands, where he led “major growth initiatives and the operational and digital transformation of Taco Bell,” according to the statement.
David Quick, Interblock board member, said in prepared remarks: “We are fortunate to have Bala step in as interim CEO at this important time.
“During his tenure as interim COO, Bala demonstrated outstanding leadership, operational expertise, and a deep understanding of our business and industry.”
Mr Quick added: “The board has full confidence in his ability to guide Interblock through this transition and ensure we continue to deliver value to our customers and partners.”
The firm said it had engaged an executive search firm “to identify Interblock’s next permanent CEO”.
In an interview with GGRAsia in December, Vincent Tang, the group’s vice president of sales for Asia Pacific, said Interblock expected the business to grow this year, via a pipeline of products to be launched in a number of regional markets.
