Rational Group COO Rosenthal to depart
Israel Rosenthal to leave in summer while CEO David Baazov and CFO Daniel Sebag will not stand for board re-election
Rational Groupâs chief operating officer (COO) Israel Rosenthal will leave his position on 1 August, the groupâs parent company Amaya announced yesterday.
In a Q1 earnings call, Amaya interim CEO Rafi Ashkenazi said Rosenthal was leaving after âmany years of service and valued contributionâ but would not be directly replaced.
âFollowing his departure, we will utilise our senior existing management team to assume his responsibilitiesâ, said Ashkenazi.
Rosenthal was only appointed to the role of chief operating officer in April last year, as part of the businessesâ reorganisation following its acquisition by Amaya.
His departure comes after PokerStarsâ recent licensing application in New Jersey.
As part of the successful application, New Jerseyâs Division of Gaming Enforcement (DGE) stipulated that Amaya dismiss four members of staff over their involvement with PokerStars and Full Tilt in the US, following passage of the Unlawful Internet Gaming Enforcement Act.
Rosenthalâs departure continues amid a tumultuous couple of months for Amayaâs senior management team after chief executive David Baazov and CFO Daniel Sebag were accused of insider trading.
Baazov and Sebag, will not be standing for re-election as directors at the next Amaya AGM, although Sebag said on the earnings call the decision was made voluntarily and a more independent board reflected best practice in a modern corporation.
The Q1 results saw Amaya post a 6% rise in revenues on the strength of its casino and sportsbook verticals.