Gaming Partners International Names David W. Grimes to the Position of Chief Financial Officer
December 11 2006 - 8:00AM
PR Newswire (US)
Gay Nordfelt to Serve as Corporate Secretary LAS VEGAS, Dec. 11
/PRNewswire-FirstCall/ -- Gaming Partners International Corporation
(NASDAQ:GPIC) (GPI), the gaming industry's leading manufacturer and
supplier of casino chips and other table game supplies, today
announced that David W. Grimes has joined the company as chief
financial officer, effective December 7, 2006. Gerard Charlier who
has served as interim chief financial officer since August 9, 2006,
will relinquish that role and continue serving as the Company's
president and chief executive officer. Mr. Grimes' primary
responsibilities will include managing the company's financial
growth and financial reporting. He will also serve as chief
financial officer of the Company's subsidiary, Gaming Partners
International USA, Inc. and will report directly to Mr. Charlier.
Mr. Grimes brings to GPI an impressive 25-year background in
management, finance and financial reporting. Most recently, he
served as vice president at Artemis International, Inc., a provider
of specialized natural colors and nutraceutical products. Prior to
his employment with Artemis, Mr. Grimes served as chief financial
officer of WFI Industries Ltd., a publicly-traded manufacturer of
residential and commercial geothermal heating and air conditioning
systems, before becoming its president and chief executive officer.
Mr. Grimes also served as chief financial officer and treasurer of
Patton Electric Company, Inc., a manufacturer of fans, portable
heaters and humidifiers, and as a financial analyst at Unisys
Corporation. Previously, he served for three years in the United
States Army as a Field Artillery Officer in Germany. Mr. Grimes
received a master of business administration degree from Harvard
Business School and a master of accounting science degree and a
bachelor of science in accountancy degree from the University of
Illinois. Commenting on the appointment, Gerard Charlier, president
and chief executive officer of GPI said, "On behalf of everyone at
Gaming Partners International, I would like to welcome Dave to the
Company. He has a solid background in financial reporting and
controls as well as a wealth of experience with fast-growing
companies similar to GPI. As we approach 2007, I believe there is a
tremendous amount of potential for GPI to capitalize on the
opportunities that exist within the global gaming equipment market,
particularly as RFID casino chips continue to gain momentum. I am
confident that Dave will play a key role in our future success and
look forward to working with him as we continue to execute our
growth strategy." In addition, the Company's board of directors
promoted Gay A. Nordfelt, to corporate secretary, effective
December 1, 2006. Ms. Nordfelt has served as executive secretary to
Gerard Charlier since December 2001 and has thirty years of
experience in secondary and post- secondary business education and
administration and she worked as an adjunct business instructor at
Utah Valley State College from 1984 to 2001. Ms. Nordfelt received
an undergraduate degree in English and business education from
Weber State University and a master's degree in business education
administrative management and organizational behavior from Brigham
Young University. The respective appointments of David Grimes and
Gay Nordfelt are subject to gaming regulatory approvals. About
Gaming Partners International Corporation Gaming Partners
International Corporation, or GPI, manufactures and supplies gaming
chips, table layouts, playing cards, dice, gaming furniture, table
accessories and other products that are used with casino table
games such as blackjack, poker, baccarat, craps and roulette. GPI
is headquartered in Las Vegas, Nevada, with offices in Beaune,
France; San Luis, Mexico; Atlantic City, New Jersey; and Gulfport,
Mississippi. GPI sells its casino products directly to licensed
casinos throughout the world. For additional information about GPI,
visit our website at http://www.gpigaming.com/. Forward-looking
Statement This press release contains statements that are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, such as the expected
growth potential for GPI in the global gaming equipment market and
the ability of GPI to capitalize on any such opportunities, and the
expectations of the chief financial officer at GPI or its future
success. Forward looking statements are inherently subject to
material risks and uncertainties. Actual results could differ
materially from those currently anticipated. Factors that could
cause actual results to vary materially from these forward-looking
statements include: any significant reduction in the growth rate of
new and existing casinos in Macau, the failure of the industry to
accept our RFID technology, any unfavorable resolution of a
significant lawsuit against us, any patent infringement issues, the
development of competing technologies by our competitors, the
failure of any supplier to timely deliver key raw materials for any
of our significant products, any customer cancellation of a
significant order included in our backlog, any domestic or
international terrorist incidents, and any unexpected taxes,
regulatory, charges, costs or difficulties in the operations of our
business in multiple jurisdictions or the manufacturing of our
products, as well as other risks and uncertainties referred to in
GPI's annual report on Form 10-K and quarterly reports on Form
10-Q, as well as other subsequent reports filed from time to time
with the Securities and Exchange Commission. GPI undertakes no duty
or obligation to update any of the information contained in this
press release. Gaming Partners International Contact: KCSA
Contacts: Laura McAllister Cox Todd Fromer / Lee Roth 702-384-2425
212-896-1215 / 1209 / DATASOURCE: Gaming Partners International
Corporation CONTACT: Laura McAllister Cox of Gaming Partners
International, +1-702-384-2425, ; or Todd Fromer, +1-212-896-1215,
, or Lee Roth, +1-212-896-1209, , both of KCSA for Gaming Partners
International Web site: http://www.gpigaming.com/
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