New CEO for PartyGaming

Mitch Garber (pictured) is done with PartyGaming.

PartyGaming has finally found its new CEO.

Current Chief Executive Officer Mitch Garber has left the company as of May 16, having decided to return to North America. Jim Ryan, an Internet and technology executive, is scheduled to take over his new role with PartyGaming once he wraps up his current responsibilities.

Garber, a Canadian national, has agreed to remain available as part of the handover process until July 31, when Ryan will be fully into the swing of things.

Along with the change in CEOs, current employee John O'Malia has been promoted as the new managing director.

"Jim's experience, coupled with John O'Malia's proven success in managing PartyGaming's profitability enhancements over the past year, will be a powerful combination in driving the company forward," said Chairman Michael Jackson, who plans to step down once the new CEO has settled in. PartyGaming is seeking a new chairman to fill Jackson's role.

Shares in PartyGaming were up 0.95 percent at 26.5 pence, valuing the company at around £1.09 billion ($2.12 billion).

With a little luck, you can increase your personal value by playing your preferred type of game on the Party Poker site.