Chief Executive Officer Michael Hallen steps aside to be replaced by Rahul Parekh from parent firm GTech.
Thursday 15th May 2008
Swedish online gambling software provider Boss Media has announced that former Chief Executive Officer Michael Hallen has officially handed over his duties to Rahul Parekh.
Parekh formally succeeded Hallen at the Vaxjo-based firm’s board meeting on Tuesday with a company statement noting that the business was in ‘great shape with increasing net sales, royalty revenues and operating profits’.
'Michael has been a great leader and made significant achievements for Boss Media and we strongly regret to see him leave,” said Jan Stocklassa, Chairman of the Board for Boss Media.
GEMed, which is majority-owned by Providence-based lottery giant GTech Corporation, acquired Boss Media in late-February. Parekh previously managed corporate development activities in Asia for the Lottomatica-GTech group and Boss is now part of GTech's new media and sportsbetting division alongside Finsoft Limited and St Minver Limited.
'Our clients will benefit from a larger product portfolio and a stronger international presence; there will also evolve more opportunities for our employees,” read a statement from GTech following the purchase.
'I am excited to take on this new challenge,” said Parekh. “Our business plan and objectives to continue integrating Boss Media into GTech and the new division remain.”
“I have enjoyed working at Boss Media from day one,” said Hallen.
“I leave Boss Media very proud of what we have achieved together. As I see it, GTech brings stability, growth, internationalisation and new significant opportunities to Boss Media.”
Swedish online gambling software provider Boss Media has announced that former Chief Executive Officer Michael Hallen has officially handed over his duties to Rahul Parekh.