PartyGaming has announced that its CEO, Richard Segal, would be vacating his position as the online poker company's chief executive officer. Essentially, it was an issue of location that drove Segal to leave his post. His CEO duties frequently took Segal from his home in London to PartyGaming's headquarters in Gibraltar, situated on the southern tip of Spain. As a result of increased growth for the online poker company, however, he and other board members agreed that it would be best for the CEO to be based in Gibraltar full-time, an arrangement which didn't suit Segal for familial reasons.
During Segal's 18-month stint at the helm of PartyGaming, the online poker company saw its business grow at a lightning-quick pace. Notably, Segal oversaw PartyGaming's massive flotation on the London Stock Exchange last year. PartyGaming is currently attempting to find a suitable replacement for Segal who doesn't mind shacking up full-time on the Rock. Segal must leave his post by June 1st.
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