Baca resigns from bwin.party board as Ryan retires
COO steps down from board to ensure company complies with recommended balance of independent and non-independent directors.
Bwin.party has announced that COO Joachim Baca has stepped down from the operator’s board of directors following the retirement of Jim Ryan from the business.
Baca, who will continue in his role as chief operating officer, has left the board in order to comply with the UK Corporate Governance Code’s recommended balance of independent and non-independent directors, which had been offset by Ryan’s departure, first announced in December last year. He was first awarded the directorship when the companies merged in March 2011, having become COO of bwin in January 2004.
Despite stepping down Baca “remains a core member of [bwin.party’s] senior management team” and will continue to report directly to Norbert Teufelberger, the company said in a statement this morning.
Meanwhile Jim Ryan has now officially left his role as co-CEO of bwin.party, with Teufelberger taking over as sole chief executive, bringing to an end his 11-year career in the industry. He joined PartyGaming in June 2008 and prior to the merger with bwin oversaw the group’s expansion into regulated European markets, signing B2B deals with former monopoly operators Danske Spil in January 2010, and with Pari-Mutuel Urbain in March of the same year.
Ryan also oversaw the signing of a US$105m settlement agreement with the US Department of Justice for pre-UIGEA operations in April 2009, paving the way for bwin.party’s re-entry into the US market. Following the merger he then led the drive to establish partnerships in the States, signing deals with MGM Resorts and Boyd Gaming, as well as a deal with California’s United Auburn Indian Community tribe.
Just months before his departure the company also signed an agreement with Zynga to supply the operator with a suite of products for its UK-facing real-money gambling launch.
Commenting on his departure Ryan said in December last year: “Having given over 11 years of my life to the online gaming industry, I am now looking forward to returning to Canada and enjoying more time with my family.”