April 26, 2010 / 10:06 PM / 9 years ago

UPDATE 1-Shuffle Master says Timothy Parrott no longer CEO

* Says Parrott no longer CEO due to medical condition

* Names Chairman Phillip Peckman as interim CEO

April 26 (Reuters) - Casino-game maker Shuffle Master Inc SHFL.O said Timothy Parrott will not continue as chief executive due to his medical condition, and named Chairman Phillip Peckman as interim CEO.

Last week, the company said Parrott would be taking a temporary medical leave of absence of four to six weeks to continue treatment for an intestinal infection he contracted in his cancer treatment.

“The announcement about Tim Parrott last week was appropriate and fully accurate at the time ... Now, learning of the change in Tims medical condition, the board was compelled to establish the interim CEO role and has begun the process of finding a permanent CEO,” Peckman said in a statement.

The company, which makes gambling tables, slot machines and card shufflers, said it will initiate a search for a new CEO.

Peckman has served as non-executive chairman of Shuffle Master’s board since 2008.

Shares of the company closed at $8.89 Monday on Nasdaq. (Reporting by Mihir Dalal in Bangalore; Editing by Ratul Ray Chaudhuri)

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