Rodrigo Larraín, General Manager of Chilean gambling company Enjoy, has resigned his post with immediate effect. The decision comes exactly one month after the resignation of former Enjoy President Javier Martínez came into force.
The Board of Directors of the Chilean company confirmed that the current COO, Eliseo Gracia Martínez, will serve as interim General Manager until July 1, after which a permanent candidate will be selected.
The managerial change arises from Larraín’s decision to “take on new professional challenges” according to his statement. It also comes after the GM led a reorganization process at the casino operator.
The process, which took place between March 11 and April 16, resulted in the company raising $40m in convertible bonds and warrants. In order to secure the funding, Enjoy had to reduce its debt levels by converting 70% of that sum in shares. The company also assured that the $40m reflects market confidence in the reorganization.
Henry Comber, Chairman of the Board of Directors, sent a letter to the employees informing them of the changes, assuring that “this initial period has been extraordinarily motivating”.
“We have a tremendously strong team, with professional and disciplined business units with high standards. Without a doubt, Larraín’s departure saddens us since we all know Rodrigo is a great professional,” he added.
“On behalf of the entire board of directors, I want to thank Rodrigo for the important work carried out together with his team during all these years and in particular for having successfully led one of the most challenging and transcendent periods of the company.”
“[He left] the company in a position of financial strength, which makes us look to the future with very good prospects to resume the path of growth and leadership that Enjoy has always had in the region.”