The news broke in a press release today from bwin.party Digital Entertainment Plc to the London Stock Exchange that the group's co-CEO, Jim Ryan, is set to retire from his position on January 15th, 2013.
The press release had a statement from Ryan: "Being Co-CEO of bwin.party has been my dream job. As we approach the final stages of our merger integration, I am immensely proud of what we have achieved and know that with Norbert at the helm, the business is in excellent hands and is particularly well-placed for the future. 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."
Co-CEO Norbert Teufelberger is the current co-CEO with Ryan and upon Ryan's retirement, Teufelbeerger will take on the new role of Group CEO. Teufelberger called Ryan a "good friend" and also considers him to be "an excellent business partner."
Ryan became PartyGaming Plc's CEO in June of 2008 and once the merger with bwin interactive Entertainment AG took effect in March 2011, he became the Co-CEO of the newly formed group. Ryan helped secure a series of strategic partnerships that included Boyd Gaming, Zynga, and MGM, but now feels the time is right to return to his native Canada and spend more time with his family.