GPIC names new CFO
11 December 2006
LAS VEGAS, Nevada – (PRESS RELEASE) -- Gaming Partners International Corporation (Nasdaq: GPIC) (GPI), the gaming industry's leading manufacturer and supplier of casino chips and other table game supplies, today announced that David W. Grimes has joined the company as chief financial officer, effective December 7, 2006. Gerard Charlier who has served as interim chief financial officer since August 9, 2006, will relinquish that role and continue serving as the Company's president and chief executive officer. Mr. Grimes' primary responsibilities will include managing the company's financial growth and financial reporting. He will also serve as chief financial officer of the Company's subsidiary, Gaming Partners International USA, Inc. and will report directly to Mr. Charlier.
Mr. Grimes brings to GPI an impressive 25-year background in management, finance and financial reporting. Most recently, he served as vice president at Artemis International, Inc., a provider of specialized natural colors and nutraceutical products. Prior to his employment with Artemis, Mr. Grimes served as chief financial officer of WFI Industries Ltd., a publicly-traded manufacturer of residential and commercial geothermal heating and air conditioning systems, before becoming its president and chief executive officer. Mr. Grimes also served as chief financial officer and treasurer of Patton Electric Company, Inc., a manufacturer of fans, portable heaters and humidifiers, and as a financial analyst at Unisys Corporation. Previously, he served for three years in the United States Army as a Field Artillery Officer in Germany.
Mr. Grimes received a master of business administration degree from Harvard Business School and a master of accounting science degree and a bachelor of science in accountancy degree from the University of Illinois.
Commenting on the appointment, Gerard Charlier, president and chief executive officer of GPI said, "On behalf of everyone at Gaming Partners International, I would like to welcome Dave to the Company. He has a solid background in financial reporting and controls as well as a wealth of experience with fast-growing companies similar to GPI. As we approach 2007, I believe there is a tremendous amount of potential for GPI to capitalize on the opportunities that exist within the global gaming equipment market, particularly as RFID casino chips continue to gain momentum. I am confident that Dave will play a key role in our future success and look forward to working with him as we continue to execute our growth strategy."
In addition, the Company's board of directors promoted Gay A. Nordfelt, to corporate secretary, effective December 1, 2006.
Ms. Nordfelt has served as executive secretary to Gerard Charlier since December 2001 and has thirty years of experience in secondary and post- secondary business education and administration and she worked as an adjunct business instructor at Utah Valley State College from 1984 to 2001.
Ms. Nordfelt received an undergraduate degree in English and business education from Weber State University and a master's degree in business education administrative management and organizational behavior from Brigham Young University.
The respective appointments of David Grimes and Gay Nordfelt are subject to gaming regulatory approvals.