The board of directors of Everi Holdings Inc. announced a significant shift in responsibilities for the slot and fintech supplier’s top management. Chief Executive Officer Michael D. Rumbolz will be appointed executive chairman of the board and current Chief Operating Officer Randy L. Taylor will succeed Rumbolz as chief executive officer, and will be appointed to the board. All appointments will be effective April 1, 2022.
“Under Mike’s leadership, the company’s market capitalization has increased from $168 million at the time of his appointment as Interim president and CEO in February 2016 to approximately $2 billion today,” said Ronald Congemi, lead independent director of Everi. “The company’s appreciation in market value, the significant growth we have achieved across our business and the culture of collaboration and innovation that exists at Everi today, all directly reflect Mike’s leadership.
“Mike was instrumental in establishing a vision for Everi, and he steered the company through significant changes while implementing new operational practices. His contributions include improving the company’s depth and breadth of leadership, driving a corporate culture based on teamwork, collaboration and inclusion, and putting Everi on a growth path based on continuous operational improvement.
“He led the company’s smart, targeted internal and external investments that have significantly improved the company’s earnings power and its free cash flow. Mike has placed Everi on a very strong foundation for the future. On behalf of our board of directors, we sincerely thank Mike for his nearly six years of outstanding service to the company as our CEO, and we are excited that we will continue to benefit from his experience, insights and guidance as executive chairman.”
“During his more than ten years at Everi, Randy Taylor has consistently assumed additional leadership and operations responsibilities,” Congemi said. “We are very fortunate to have a talented executive in Randy who is capable of seamlessly stepping into the CEO role to continue to lead and advance the strong growth trajectory and momentum the company has established over the last several years.
“Randy knows Everi intimately, and has played a critical role in shaping the company’s growth initiatives while also being a leading advocate for establishing the values and principles we stand for as a company. Randy is highly respected by all of our stakeholders, both in and outside the company, and the board is highly confident he is ideally suited to become our next CEO to continue to advance and execute Everi’s growth strategy in the years ahead.”
“I am honored by the trust the board has shown me and excited by the substantial opportunities we have to grow Everi in the years ahead,” said Taylor. “Mike has had a tremendous influence on building Everi, and I have greatly appreciated the opportunity to work closely with him. With our core recurring-revenue businesses continuing to grow strongly and early-phase growth ventures like iGaming and our cashless wallet technology set to be meaningful contributors in the future, Everi is favorably positioned for near- and long-term growth and continued success.”
Taylor has served as president and chief operating officer since April 1, 2020, having previously been executive vice president, chief financial officer and treasurer since March 2014. Taylor joined Everi in November 2011 as senior vice president and controller.
Prior to joining Everi, he served at Citadel Broadcasting Corporation for 10 years, rising through a variety of financial roles to become Chief financial officer and principal financial accounting officer. Previously, Mr. Taylor served in various financial positions in the gaming industry with both casino operators and gaming suppliers.
“It has been an honor to serve as Everi’s CEO, working with the finest team in the industry for nearly six years,” said Rumbolz. “I believe the company’s best years are still ahead, and I look forward to all of Everi’s future successes. I am confident that under the continuity of the company’s leadership highlighted by Randy assuming the CEO role and with our great team, that Everi will continue to drive our existing business momentum and will continue to grow shareholder value.”
Rumbolz served first as Everi’s interim president and CEO from February 2016 to May 2016, then president and CEO May 2016 through March 2020, and since April 1, 2020 as CEO, having previously served as a member of the board since 2010.
From 2008 to 2010, he served as a consultant to the company advising upon various strategic, product development and customer relations matters.
