GPI Announces Retirement of CEO; Appoints Successor
August 11 2009 - 6:30AM
PR Newswire (US)
Charlier to Retire; Gronau to Become President and Chief Executive
Officer LAS VEGAS, Aug. 11 /PRNewswire-FirstCall/ -- Gaming
Partners International Corporation (NASDAQ:GPIC), a leading
provider of casino currency and table game equipment worldwide,
announced today the forthcoming retirement of its President and
Chief Executive Officer, Gerard P. Charlier, effective on September
12, 2009. Charlier, 70, is completing his seven-year employment
contract which commenced in September 2002 when Gaming Partners
International was incorporated. Charlier will continue to serve as
a member of the board of directors. The Company also announced the
appointment of his successor, Gregory Gronau, by the board of
directors. The Company hired Gronau in October 2008 as Executive
Vice President and Chief Operating Officer as part of the
succession plan necessitated by the planned retirement of Charlier.
Charlier, who has been with the Company since 1985, initially
serving on the board of directors of GPI's founding company,
Bourgogne et Grasset (B&G), has been President and Chief
Executive Officer of the Company since 1994, presiding over the
acquisition of Bud Jones Company by B&G in 2000, and then the
merger with Paulson Gaming in 2002 to create Gaming Partners
International Corporation. Under Charlier's direction, GPI has
become a leading supplier of casino currency and table game
equipment around the world. Charlier was instrumental in pioneering
the utilization of RFID technology in casino currency to offer
increased security, inventory, and tracking applications on gaming
tables. "GPI has been my life's work for so long and while I will
miss the day-to-day activity, I am very confident in handing the
reins over to Greg," said Charlier. "Having worked closely together
over the last several months, I know that the experience and
commitment that Greg brings to GPI will continue to advance the
company as a global leader in table games equipment and
technology." Gronau, who will assume his new role on September 12,
2009, has enjoyed a successful career in the gaming industry.
Before joining GPI, Gronau served as President and CEO of Cadillac
Jack, a supplier of games and systems to the casino industry. Prior
to that Gronau served as Vice President of Operations for Shuffle
Master, Inc. and Vice President of Distribution Services for WMS
Industries. "I am very pleased in the vote of confidence that the
Board of Directors has given me with this appointment," stated
Gronau. "Gerard's vision and leadership brought together three
industry-leading companies to form what is now Gaming Partners
International, the premier global supplier of casino currency and
table games equipment. I look forward to working with this great
team as we continue to build upon that success." About Gaming
Partners International Corporation GPI manufactures and supplies
casino table games and equipment to licensed casinos worldwide.
Under the brand names of Paulson , Bourgogne et Grasset and Bud
Jones , GPI provides casino currency such as chips, plaques and
jetons; gaming furniture and accessories; table layouts; playing
cards; dice; and roulette wheels. GPI pioneered the use of security
features such as RFID technology in casino chips, and provides RFID
solutions including chips, readers and displays. Headquartered in
Las Vegas, Nevada, GPI also has offices Beaune, France; San Luis
Rio Colorado, Mexico; Atlantic City, New Jersey, and Gulfport
Mississippi. For additional information, please visit
http://www.gpigaming.com/. Safe Harbor Statement This release
contains "forward-looking statements" based on current expectations
but involving known and unknown risks and uncertainties, such as
statements relating to anticipated future sales or the timing
thereof, the long-term growth and prospects of our business or any
jurisdiction, including Macau, the Philippines and Singapore, the
duration or effects of unfavorable economic conditions which may
reduce our product sales, and the long-term potential of the RFID
gaming chips market and the ability of Gaming Partners
International to capitalize on any such growth opportunities.
Actual results or achievements may be materially different from
those expressed or implied. Gaming Partners International's plans
and objectives are based on assumptions involving judgments with
respect to future economic, competitive and market conditions, the
timing and its ability to consummate, acquisitions, and future
business decisions and other risks and uncertainties identified in
Part I-Item 1A, "Risk Factors" of the Company's Form 10-K for the
period ended December 31, 2008, all of which are difficult or
impossible to predict accurately and many of which are beyond its
control. Therefore, there can be no assurance that any
forward-looking statement will prove to be accurate. DATASOURCE:
Gaming Partners International Corporation CONTACT: David W. Grimes,
CFO, , or Lauren Coombs, Director of Marketing, , both of Gaming
Partners International Corporation, +1-702-598-2400 Web Site:
http://www.gpigaming.com/
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