n addition to these promotions, and in keeping with corporate best practices, the company announced that its Board of Directors has decided to separate the roles of Chairman of the Board from that of CEO and has elected Philip Peckman, a current independent director, as its new non-executive Chairman.
Finally, Shuffle Master also announced that in order to streamline its domestic operations and improve efficiencies, the company is consolidating the Shuffle Master Americas division with its Corporate group, both of which are headquartered in Las Vegas.
Mark Yoseloff, Ph.D., CEO, commented, "I am pleased that during these tough economic times for our industry, Shuffle Master continues to grow and prosper because of our suite of innovative products which provide both revenue enhancement and operating cost efficiencies for our casino customers. Phil’s strong business experience and new role will bring broader perspective to our business, while the promotion of these three seasoned executives will greatly strengthen our senior management team. These changes will allow me to continue to focus on our overall business strategy."
"We have indicated for some time our plan to strengthen our executive depth and operational focus. Roger, David and Jerry have all been with Shuffle Master for a number of years and have been important contributors to the Company’s dramatic growth. Their strategic planning, operations, development, and managerial experience within the company make them uniquely suited to take on this new responsibility. I am proud of these talented examples of one of our greatest strengths; namely, our human capital, and look forward to working with this dynamic team on a senior executive level," Yoseloff concluded.
Peckman has been a member of Shuffle Master’s Board of Directors since June 2007. He is an attorney and certified public accountant and presently serves as Chairman of the Board’s audit committee. Peckman is the Chief Executive Officer of Peckman Outdoor Media. Prior to this he served as President and CEO of The Greenspun Corporation, a company with interests in real estate, media, communications, travel and tourism, gaming and technology. Peckman retired from this post in 2006.
Lopez began his career with Shuffle Master in 1998 as a Marketing Analyst and has since been promoted six times, most recently serving as President of Shuffle Master Americas. During his ten year tenure, Lopez has played an important role in Shuffle Master’s overall growth. He was responsible for managing much of the sales growth and profitability of the business, while building a strong team of leaders to drive continued market success. In his expanded corporate role, he will be assuming many of the responsibilities previously handled by Paul Meyer, former President and COO. His primary focus will be on sales, product management and operations.
Snow began his career with Shuffle Master in 2000 as Table Games Product Manager. In addition to running the product line, Snow oversaw the development of the Company’s proprietary table games. Snow has developed some of the most popular games in the market, including Four Card Poker, Crazy 4 Poker and Dragon Bonus.
Snow’s games represent over 1,200 tables in casinos around the world. Snow has held three other positions in the company. With this promotion, he will take over chairing the company’s Corporate Products Group, the committee responsible for the Company’s product strategy. In addition, he will oversee worldwide marketing.
Smith started with Shuffle Master in 2001 and most recently served as Senior Vice President and General Counsel. During his tenure with the Company, he has played a major role in the Company’s acquisitions and other important legal transactions. Smith will continue to serve as the company’s General Counsel, responsible for the Company’s legal, compliance and corporate affairs. He will also now serve as Corporate Secretary.
Smith, Lopez and Snow will continue to report directly to Yoseloff and will maintain their current responsibilities in addition to overseeing corporate strategic goals and objectives.