Party Poker's New CEO?

Filed in archive Internet Poker on March 20, 2006

We reported a few weeks ago that PartyGaming's CEO, Richard Segal, is stepping down. The Guardian reports that PartyGaming may have found his replacement. Mitch Garber, a Canadian and former executive chairman of FireOne Group PLC, a payment processor for online gambling operations, is rumored to be the leading candidate for the position.

PartyGaming's board is expected to vote and make an announcement this week. The job, if granted, will net Garber compensation, mostly in the form of stock options, roughly equal to $15 million per year at current stock valuations.

It's good to be the rake.