HispanicBusiness

Slot machine maker and casino supplier Bally Technologies Inc. of Las Vegas today said that CEO Richard Haddrill is stepping down from that post and that Ramesh Srinivasan will become president, CEO and a board member effective by Dec. 31.

Haddrill, CEO since 2004, will become chairman of the board under a leadership transition plan.

Srinivasan joined Bally in 2005 as executive vice president of systems and was named president and chief operating officer in March 2011.

"The board of directors is very pleased with the direction of the company and our succession planning process. We value the strong executive team at Bally and the close working relationship between Ramesh and Dick, which we expect to continue," said current board Chairman Kevin Verner.

"Ramesh and I have been great business partners over the past 13 years across two companies and these changes reflect the continued natural evolution of our roles and responsibilities. We have built a deep group of leaders at Bally and Ramesh has proven his ability to lead the team," Haddrill said in a statement.