Michael Hallén, the chief executive of Boss Media, is stepping down after less than a year with the company, and just three months after its acquisition by a Lottomatica subsidiary-led investment vehicle.
Successor to Mr. Hallén is Raul Parekh, former head of Asian corporate development at Gtech Corp.
Mr. Parekh will take up his new post following Boss Media's May 13 board meeting.
"I am excited to take this new challenge on," said Mr. Parekh in a prepared statement Friday. "Our business plan and objectives to continue integrating Boss Media into GTECH and the new division remain."
Boss Media's chairman, Jan Stocklossa, said Mr. Hallén had logged "significant achievements" for the company.
"Michael has been a great leader," said Mr. Stocklassa, who since September 2007 has also served as Gtech's vice president of corporate development.
"We strongly regret to see him leave."
In February 2008, Boss Media was acquired by GEMed, a jointly-held investment vehicle consisting of Gtech, its majority stakeholder, and Medströms, a Sweden-based investment group.
Mr. Hallén said in Friday's statement that he "enjoyed working with Boss Media from day one."
"I leave Boss Media very proud of what we have achieved together," he said. "As I see it, GTECH brings stability, growth, internationalization and new significant opportunitites to Boss Media."
The company did not specify the reasons behind Mr. Hallén's decision.
Mr. Parekh is Boss Media's fourth chief executive since May 2007.
Johan Berg, the company's former chief executive, stepped down on May 10, 2007 and was replaced on an interim basis by Markus Holm, its then head of business development.
Mr. Holm was replaced by Mr. Hallén on June 20, 2007.
Chris Krafcik is the editor of IGamingNews. He lives in St. Louis, Mo.