Gaming solutions group Interblock has announced the resignation of its CEO John Connelly and appointment of interim CEO Bala Ganesan while it searches for its next permanent Chief Executive.
In a press release on Wednesday, the group did not give a reason for the resignation, with board member David Quick noting that the company is entering “its next phase of growth and innovation” and “ensuring Interblock is led by the right executive to capitalize on emerging opportunities and sustain its strong growth trajectory”.
Connelly’s interim replacement has served as Interblock’s interim Chief Operating Officer and was previously a Managing Director at Oaktree Capital Management. Oaktree-advised investment funds own a majority of Interblock’s equity interests.
Speaking of the appointment, Ganesan reassured investors, noting “Interblock is exceptionally well positioned for continued growth, underpinned by a talented team, industry-leading innovation, and strong customer partnerships”.
The group has indicated it ‘has engaged an executive search firm to identify Interblock’s next permanent CEO’, and that during the procurement it ‘remains fully committed to advancing its strategic priorities and delivering the high-quality products and services that define the Interblock brand’.
John Connelly was appointed as Interblock’s global CEO in January of 2015, having previously served as a member of Bally Technologies Inc.’s executive committee.
