TransAct appoints Randall Friedman, enlarges board

Nov 13, 2020 Newsdesk Industry Talk, Latest News  

---

Casino technology and food service technology supplier TransAct Technologies Inc said on Thursday it had appointed Randall Friedman to the firm’s board of directors, with effect from November 10. Following the nomination, TransAct’s board will expand to six directors from five.

The group’s core business has been casino player rewards and player-tracking software, and ticket printers for electronic gaming machines. More recently it has been developing sales of its food inventory monitoring and food-service tracking system known as Boha.

“Mr Friedman’s extensive knowledge of restaurants and the food service industry and his deep expertise in business-to-business marketing in the restaurant market will be a huge help to our company given how the sales process has changed so dramatically in a Covid-19 environment,” said Bart Shuldman, TransAct’s chairman and chief executive, as quoted in Thursday’s release.

Mr Friedman is described in the release has having more than a “decade of leadership experience in digital innovation and marketing, strategic planning, business acquisitions and divestitures, as well as restructuring and business evolution.”

The executive is said to have served in various senior management roles, including as president and chief executive of Lebhar-Friedman Inc, where he was responsible for sales and marketing, and focused on the food service and retail markets.

TransAct said last week that its third-quarter sales in the casino and gaming segment fell 60.4 percent in year-on-year terms, to just above US$2.0 million. The company posted an overall net loss of US$867,000 for the period, compared to net income of US$384,000 in the prior-year quarter.

---

---