2 of the founders of party gaming have stepped down different reasons.

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Party Gaming Founders Step Down

by Alex Hallow
2006-05-24 18:58:00
2 of the founders of party gaming have stepped down different reasons.

2 of the founders of the online poker site PartyGaming have stepped down from the board of directors.

The brains behind the technical side of the site is leaving the board of directors but will continue to produce new products as the new head of research and development and special projects.

The marketing director has also resigned his position from the board. He will leave the company at the end of this year, but the company is hoping he will still be available to advise the group when needed.

Between the 2 they have already made over 500 million BSP from selling there shares of the company, and they still own about 40% between them. The company is valued at over 5 billion BSP.

In the beginning of the year the company sold almost 25% of the shares to Softbank, a Japanese investment company.

The Company has also lost its chief executive because he did not wish to relocate to Gibraltar which is where the company is moving. Some experts are saying this move shows that the new chief executive was making his mark at the company.

In a joint statement, the 2 men said they were confident the firm's marketing and technology departments would continue to flourish and they welcomed the arrival of the new Chief Executive.

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