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Boss Media Loses Boss - 05-11-08 |
May 11 - GTECH insider, Rahul Parekh, who holds an MBA in International
Financing, will be replacing Boss Media CEO, Peter Hallen,
effective May 13th, after the latter announced his resignation from the company.
Hallen became CEO at the Swedish gambling company in July last year and will be
completing his post having reached all the targets set for 2008.
Boss Media was purchased in February of this year by a joint GTECH and
Medstroms AB venture, known as GEMed. Boss Media is one of several gaming and
wagering companies in GTECH's company portfolio, which also includes St Minvier
and Finsoft.
Parekh is well established within the GTECH executive hierarchy and heads the
Asian division of the company, as well as issues pertaining to strategy in China
and India.
Referring to his time spent as head of one of Europe's most well-known
companies, Hallen said: "I have enjoyed working at Boss Media from Day One. I
leave Boss Media very proud of what we have achieved together. As I see it,
GTECH brings stability, growth, internationalism, and new significant
opportunities to Boss Media."
In response, Parekh said about his appointment: "I am excited to take this
new challenge on. Our business plan and objectives to continue integrating Boss
Media into GTECH and the new division remain."
Last month, Boss Media acquired the UK-based Dynamite Idea Limited, a leading
supplier of fixed odds games to some of the biggest names in the gambling
industry, including Unibet and Ladbrokes. The company's portfolio of games is
presently being offered through Boss Media's new Instant Gaming Platform and the
recently launched Gaming Management System.
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