The Board of Directors of Everi Holdings Inc. voted to remove Ram V. Chary from his positions as the company’s president, CEO and board member.
The company announced the appointment of current director, Michael D. Rumbolz, to the role of Interim President and Chief Executive Officer while the Board has formed a search committee to identify a qualified candidate to serve as the Company’s permanent CEO.
“While this was a difficult decision, the Board believes this move is in the Company’s best interest,” said E. Miles Kilburn , Chairman of the Board.
The Board will consider internal and external candidates for the role, and expects to hire a CEO who has a strong track record of success.
Additionally, Everi reaffirmed its expectation that 2015 Adjusted EBITDA will be within the previously provided range. Everi expects to report 2015 fourth quarter and full year financial results in March.