CryptoLogic Chairman Robert Stikeman Steps Down

5/15/2009 by Gaming Industry Media Staff

Robert H. Stikeman, 62, is set to step down as CryptoLogic Ltd.'s chairman and will remain a non-executive director, the online gambling software developer announced on Friday.

Robert H. Stikeman, 62, is set to step down as CryptoLogic Ltd.'s chairman and will remain a non-executive director, the online gambling software developer announced on Friday.

He will be replaced after June 3 by David M.J. Gavagan (pictured), who has been a director since 2008.

Mr. Stikeman was named chairman of the board in May 2003 and has also been a director since 2002. He served as CryptoLogic's secretary since 1996, according to Forbes magazine.

"As CryptoLogic enters a new stage of its development, today's announcement reflects our continued commitment to the highest standards of corporate governance and to long-term value for our shareholders," Mr. Gavagan said in a company statement.

According to Reuters, Mr. Gavagan is a self-employed accountant and co-founded Hibernia Capital Partners in 1996, where he served as its senior partner for a decade.

In addition, CryptoLogic has proposed to appoint James Wallace, chairman of Scapa Group, as an independent non-executive director.