bwin.party digital entertainment has confirmed that chairman Simon Duffy will not be standing for re-election at the company's next Annual General Meeting next May, by when he will have served in the role for more than three years.
Duffy was appointed non-executive chairman of bwin.party on March 31st 2011 following the merger of bwin and PartyGaming.
In a trading update this morning, Duffy said that he had informed the company’s board that he does not intend to stand for re-election at the company's next AGM to be held in May 2014, allowing plenty of time for the independent directors to conduct a formal search process for his successor.
“By the time I depart the board in May next year I will have served as bwin.party's Chairman for more than three years,” said Duffy. “As non-executive chairman I was tasked with overseeing the integration of bwin and PartyGaming following the announcement of their merger in 2010 and I am pleased to say that many of the strategic objectives positioning bwin.party for future growth have now been achieved.”
“The most recent milestone was the successful re-entry into the United States with the launch of real money gaming poker and casino services along with our partner in New Jersey, the Borgata Hotel Casino and Spa.
"The group has faced numerous challenges over the past three years, but most of them are now behind us and I am confident that, under the leadership of Norbert Teufelberger, bwin.party is well-placed to return to growth by capitalising on its strong market position, leading brands and proprietary technology,” he added.
Duffy also serves as a non-executive director of Oger Telecom Limited and Modern Times Group AB and as a non-executive chairman of Cell C (Pty) Limited, Cadogan Petroleum plc, mBlox Inc and Symbiotic Technologies Pty Ltd.
Previous non-executive directorships include Imperial Tobacco Group plc, GWR Group plc, HMV Media Group plc and Gartmore plc, while he has served in a number of executive roles at Tradus plc (formerly QXL plc), ntl:Telewest Inc. (now Virgin Media Group), Orange SA, End2End AS, WorldOnline International BV, EMI Group plc and Guinness plc.