Appointment concludes a search that began in February following the departure of long-serving CEO John Connelly
Las Vegas-headquartered electronic table games provider Interblock has appointed Kay Oswald as its new chief executive officer.
Oswald brings more than 25 years of international leadership experience across consumer, hardware, and industrial technology businesses.
He most recently served as CEO of KOHPA Technologies, a venture-backed industrial technology company, and was previously CEO and board member for North America of Technogym USA Corp., a leader in luxury fitness equipment.
Oswald takes over from Bala Ganesan, who was appointed interim CEO following the departure of John Connelly in February. Ganesan will return to his full-time role as managing director of Oaktree Capital Management.
“Kay is a proven global operator with a track record of building disciplined, scalable businesses across North America, Europe, Asia-Pacific, and Latin America,” said David Quick, Oaktree managing director and Interblock board member. “Following a rigorous search, the Board is confident Kay is the right leader to build on the world-class operating platform established over the past year and to capitalize on Interblock’s global growth opportunities including expanding our footprint across key regions and accelerating innovation in our product portfolio.”
Commenting on his appointment, Oswald said: “Interblock is an exceptional company, which is the product of a talented global team, industry-leading innovation, and the disciplined operating platform Bala and the leadership team have been building over the last several months.
“This is a new Interblock, and I am honored to lead the company into its next phase of global growth. I look forward to delivering operational excellence and strengthening our relationship with our customers and partners in every market we serve.”
Quick continued: “On behalf of the Board, I want to thank Bala for his outstanding leadership as interim CEO. He strengthened Interblock’s operating disciplines, leadership bench, and execution across the business, and the company Kay inherits is stronger than at any point in its history. We are pleased that Bala will remain closely involved with Interblock in his role at Oaktree.”
Ganesan added: “It has been a privilege to lead Interblock during this important period. Kay’s global experience and operational rigor make him the ideal leader for the company’s next chapter. I look forward to continuing to support Kay, the leadership team, and our people around the world in my role at Oaktree.”
Oaktree-advised investment funds own a majority of the equity interest in Interblock.