opez will remain as COO and Executive VP while serving as Interim CEO until the Board completes its CEO search. The Board also appointed Lopez as an executive member of the Board of Directors.
He has served as President of Shuffle Master Americas, President of the Utility Division, and Executive Director of Product Management. During his 12-year tenure with the Company, Mr. Lopez has overseen ten corporate divisions, departments and entities world-wide, as well as leading the launch of numerous key Shuffle Master products.
Linster W. Fox, Executive Vice President and Chief Financial Officer, will replace Mr. Lopez as Secretary of the Company.
The company also announced that Garry W. Saunders has been appointed permanent Chairman of the Board by the independent directors, effective today. Saunders has served as interim non-executive Chairman of the Board since April 26, 2010.
"We are fortunate to have someone the caliber of Mr. Lopez to serve as our Interim CEO. David has proven to be a dedicated and effective leader since joining Shuffle Master. His thorough knowledge of our business and the gaming industry make him uniquely capable of leading the Company during this transition period," said Mr. Saunders. "The Board deeply appreciates Phillip Peckman's service as Interim Chief Executive Officer during an important time for the company."