GPI’s chief financial officer resigns

Jul 10, 2014 Newsdesk Industry Talk, Latest News, Top of the deck  

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The chief financial officer of U.S.-based casino currency supplier Gaming Partners International Corp (GPI), Michael Mann, has resigned. Mr Mann had been appointed CFO in September last year.

GPI said in a filing the resignation was tendered on July 7, effectively immediately.

Notwithstanding his resignation, the company agreed to pay Mr Mann a severance payment equal to three months of his annual salary, GPI said.

The company did not provide a reason for the sudden departure of Mr Mann.

GPI chairman Alain Thieffry was appointed interim CFO until a replacement for Mr Mann is hired. The company said it has already started the search for a new CFO.

GPI announced earlier this month the acquisition of GemGroup Inc, a U.S.–based manufacturer of playing cards, casino chips and table layouts, for US$19.75 million.

GPI supplies casino currency and table products for several Asian casino operators. The company has offices in Macau.

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