April 27, 2010 (FinancialWire) — Shuffle Master, Inc. (NASDAQ: SHFL) said that its chief executive officer Timothy J. Parrott will no longer serve as the company’s CEO or as a member of its board, due to a medical condition. The company’s board has appointed chairman Phillip C. Peckman as interim CEO and director Garry W. Saunders as interim non-executive chairman, replacing Peckman.

Shuffle Master said that its board’s governance committee will promptly initiate a search for a new CEO. On April 21, Shuffle Master said that Parrott would be taking a temporary medical leave of absence.

Peckman will remain as a director of the company but will no longer be “independent” under the applicable SEC and NASDAQ rules. He has resigned from all board committees. Director Louis Castle will replace Peckman as the board’s audit committee chair. Director Daniel Wade will replace Castle as the compensation chair. Director John Bailey will remain governance committee chair. By appointing Peckman as interim CEO, the company’s board is ending an interim management committee set up last week.

Nevada-based Shuffle Master is a gaming supply company serving casino customers.

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