veri Holdings Inc. today announced that E. Miles Kilburn, Chairman of the Board of Directors of Everi, has informed the Company he will retire from the Board and will not stand for reelection at the Company’s 2021 Annual Meeting of Stockholders, which will be held on May 19, 2021, Mr. Kilburn’s last day of service on the Board.
The Board has appointed Everi Chief Executive Officer, Michael D. Rumbolz, to become Chairman upon Kilburn’s retirement. The Board also named Ronald V. Congemi, a member of the Board for the last eight years, as Lead Independent Director, effective immediately.
The Board intends to review the opportunity to fill the open director position created by Kilburn’s retirement through the addition of a new director that would continue to advance the gender, cultural and professional diversity of its current composition and that would bring additional gaming, financial technology, digital and leadership experience to the Board. The Board has already identified preferred candidates to ensure this continuity of leadership. While it presently anticipates continuing to pursue its succession plan, additional qualified candidates will continue to be considered.
“Having served with distinction on the Board for 15 years including as Chairman since 2008, Miles has led our Board’s efforts to develop and adapt corporate governance practices that promote long-term value creation, transparency to stakeholders and accountability to our stockholders,” said Ronald V. Congemi, Lead Independent Director for Everi. “Since the Company’s IPO in 2005, Miles’ wisdom, experience and guidance has helped Everi develop and evolve into one of the most exciting growth companies in the gaming industry. On behalf of the Board and the entire organization I want to thank Miles for his long-time service to the Company and wish him continued success in the future.”
Miles Kilburn said, “I have enjoyed my long association with Everi, and take great satisfaction in the Company’s evolution into a leading supplier of gaming and financial service solutions to the gaming industry. Everi has strong business momentum and its financial recovery from the impact of the COVID-19 pandemic is well underway with significant opportunities for growth ahead of it. With Mike as Chairman and an exceptional leadership team in place who continue to develop and execute on Everi’s growth initiatives, the Company will continue to benefit from a strong foundation. With my business interests expanding and taking more of my time, and continuity of the Company’s stewardship in place, it’s a fitting time to retire and provide an opportunity for someone to bring new insights to the Board.”
Michael D. Rumbolz to Become Chairman
Upon Kilburn’s retirement, Michael D. Rumbolz will jointly serve as Chairman of the Board and Chief Executive Officer. Rumbolz has served as Everi’s Chief Executive Officer since April 1, 2020, having previously served as President and Chief Executive Officer from May 2016 through March 2020, and Interim President and Chief Executive Officer from February 2016 to May 2016, and has been a member of the Board since 2010.
Rumbolz has provided consulting services and held various public and private sector employment positions in the gaming industry, including serving as a Member and Chairman of the Nevada Gaming Control Board from 1985 to 1988. He previously served as the Vice Chairman of the Board of Casino Data Systems, the President and CEO of Anchor Gaming, the Director of Development for Circus Circus Enterprises (acquired by Mandalay Bay Group), and the President of Casino Windsor at the time of its construction and opening in Windsor, Ontario. In addition, Mike was the Chief Deputy Attorney General of the State of Nevada.
Mike currently serves as a Director of Seminole Hard Rock Entertainment, LLC and as a Director of VICI Properties Inc.
“Since first joining the Everi Board in 2010, I’ve had a deep and ongoing commitment to the success of Everi,” said Mr. Rumbolz. “Over the last several years, we’ve established a deep bench of experienced and talented leadership and an employee workforce that is second-to-none in my opinion. I am most proud of how we have focused on building a company culture that strives to be more diverse and collaborative, which is yielding more new and enhanced products than-ever-before and has laid a strong foundation for continued growth.”