CryptoLogic appoints new CEO

Leading gaming software provider Cryptologic Ltd. has announced today a change in leadership. Former CEO Javaid Aziz is stepping down and he will be replaced by Brian Hadfield, who expects to continue building on CryptoLogic’s global business as the new President and CEO.

Mr. Aziz, who spread CryptoLogic’s market into Europe and Asia, is retiring from corporate life to spend more time with his family. He commented about this decision: "In a dynamic business, it's never an easy time to make a personal decision, but I do so with great satisfaction about CryptoLogic's accomplishments, and great confidence in its future. CryptoLogic has achieved renewed stability and profitability in the past year, and the company is set for continued global growth in the years to come." Mr. Aziz’s track record at CryptoLogic includes achievements such as four consecutive quarters of growth earning Gambling Online Magazine's Top Casino Software Award for three years in a row.

This may seem a tough act to follow, but Mr. Hadfield’s experience and skills make him the right man for the job.  Bob Stikeman, CryptoLogic's Chairman commented on some of the reasons why Hadfield was appointed: “Brian Hadfield brings CryptoLogic important skills at an exciting time in our growth, and he is perfectly suited to build on the strategy set by Javaid Aziz. Brian knows CryptoLogic, he knows how to grow a global business, and he knows how to motivate and lead a team. His experience will ensure we continue to develop innovative new software, and innovative new commercial alliances around the world.”

Mr. Hadfield joined CryptoLogic last year as a Director, with most of his career spent at Unisys, where he progressed until becoming Managing Director for the U.K., Middle East, Africa and India. According to CryptoLogic’s press release, he oversaw a work force that grew from 3,000 to 9,000 employees, managed the transformation from a technology to a services-based company and grew the company's revenue by more than 23 per cent while in this capacity in Unisys. Mr. Hadfield has relocated to Dublin to take on his new appointment, and he made a statement regarding his new role: "It's a privilege for me to lead CryptoLogic's exceptional team of people on three continents," Mr. Hadfield said. "CryptoLogic has the right people, products and partnerships. And with a foundation of financial strength, CryptoLogic also has the right strategy for global growth. Together, we can take this thriving business to a new level of success."

CryptoLogic is a solid company, and expectations are high for Mr. Hadfield. The company is set to announce 4Q and year-end earnings in mid-march, which are expected to be in the range of $17.5 - $18.5 million with net earnings of $2-$3 million. According to CryptoLogic’s website, “The board believes that these guidance numbers will be achieved or exceeded.”