PartyGaming
CEO Leaves
As reported by the UK Guardian:
"Richard Segal, the chief executive who
led the online gaming group PartyGaming through
its stock market flotation last year, has refused
to move to Gibraltar, where the company is headquartered,
and is to leave in June with a full payout,
likely to be worth about £10m.
"Mr
Segal, who has commuted to Gibraltar from Monday
to Friday since joining the company in the summer
of 2004, said he refused to base himself there
over weekends because of 'family ties in London'.
"…The
rest of Mr Segal's management team are all located
in Gibraltar. The chief executive said he had
been asked to follow suit, first by the chairman,
Michael Jackson, then by the full board.
"
'm putting my family first,' he said. He agreed
that his successor ought to be located in Gibraltar
for the whole week…"
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