Richard Segal may have until June 1 to leave his post as CEO of PartyGaming, but it seems that the online poker leviathan may have already found a replacement for its head honcho. Last month, Segal announced that he would be abdicating his post at the PartyGaming after he declined to move full-time to the company's Gibraltar headquarters for family reasons. Along with its announcement that Segal would be leaving the firm, PartyGaming, the company behind online poker room Party Poker, announced that it had already begun the search for Segal's replacement. It seems that, less than a month later, the online poker giant may have found him.

Enter Mitch Garber, who recently resigned from his post as executive chairman of Internet payment provider Fire One. Garber has reportedly been singled out to fill the chief executive spot, his appointment pending final approval by PartyGaming's full board, which is slated to convene on the matter this week. Assuming that the appointment goes as planned, the Canadian-born Garber will reportedly move with his family to Gibraltar. Sources in the financial sector suspect that Garber will earn wages similar to those of Segal, his predecessor. That would mean a £9 million total yearly pay package, over £8 million of which would likely be comprised of stock options.

Source:  Poker777 Staff

Sunday, 19 March 2006