- Push-out Score determined
- After about six years in the position
- Accolades, praise and thanks for Rumbolz
- Randy Taylor taking over
- Rumbolz will remain as Executive Chairman at Everi
- Rumbolz said 81 words
(exechange) — Las Vegas, Nevada, December 16, 2021 — Mike Rumbolz, chief executive of Everi, leaves his position. As announced by Everi Holdings Inc. in a news release published on Wednesday, December 15, 2021, and in a regulatory filing published on Thursday, December 16, 2021, Michael D. (Mike) Rumbolz leaves his post as chief executive officer at the maker of slot machines, after about six years in the role, effective April 1, 2022.
Mike Rumbolz’s duties as CEO will be taken over by Randy L. Taylor, currently Chief Operating Officer at Everi Holdings Inc.
“Continue to drive our existing business momentum”
Everi did not give an explicit reason for Mike Rumbolz’s departure from the CEO post. Rumbolz said: “I am confident that under the continuity of the Company’s leadership highlighted by Randy assuming the CEO role and with our great team, that Everi will continue to drive our existing business momentum and will continue to grow shareholder value.”
Rumbolz will remain as Executive Chairman at Everi
“Chief Executive Officer Michael D. Rumbolz will be appointed Executive Chairman of the Board and that current Chief Operating Officer Randy L. Taylor will succeed Mr. Rumbolz as Chief Executive Officer of the Company. Mr. Taylor also will be appointed to the Board of Directors. All appointments will be effective April 1, 2022,” Everi said.
Share price increase since December 2016
The announcement follows an increase in Everi Holdings Inc.’s share price of 841% since December 2016.
In the position of CEO since 2016
Mike Rumbolz became CEO of the Company in 2016.
His bio reads as follows:
- Serves as the Company’s Chief Executive Officer, having previously served as the Company’s President and Chief Executive Officer since June 2016, as the Company’s Interim President and Chief Executive Officer since February 2016, and previously as an independent member of the Company’s Board from 2010 until his February 2016 appointment to the Interim President and Chief Executive Officer position. He will also serve as Chairman of the Board following Kilburn’s retirement from the Board at the Annual Meeting.
- Served from 2008 to 2010 as a consultant to the Company advising on various strategic, product development, and customer relations matters following the Company’s acquisition in 2008 of Cash Systems, Inc., a provider of cash access services to the gaming industry
- Served as Chairman and Chief Executive Officer of Cash Systems, Inc. from January 2005 until August 2008
- Held various positions in the gaming industry, including Vice Chairman of the Board of Casino Data Systems, President and Chief Executive Officer of Anchor Gaming, Director of Development for Circus Circus Enterprises (later Mandalay Bay Group), President of Casino Windsor at the time of its opening in Windsor, Ontario, and also has provided various consulting services
- Served as Member and Chairman of the Nevada Gaming Control Board from January 1985 to December 1988
- Former Chief Deputy Attorney General of the State of Nevada from January 1983 to January 1985
- Served as Member and Chairman of the Board of Directors of Employers Holdings, Inc. (NYSE: EIG), a holding company whose subsidiaries are engaged in the commercial property and casualty industry, from January 2000 until May 2020
- Serves as a member of the Board of Directors of VICI Properties Inc. (NYSE: VICI) since October 2017
- Serves as a member of the Board of Seminole Hard Rock Entertainment, LLC since 2008.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Mike Rumbolz’s move on a scale of 0 to 10.
exechange reached out to Everi and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 51.2021 ($).