New Interim CEO Appointed to BCLC

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 30, 2014) - Bud Smith, Chair of BCLC's Board of Directors announced that the Board of Directors has received and accepted a letter of resignation from President and Chief Executive Officer, Michael Graydon, to pursue an opportunity in the private sector after almost six years with BCLC.

The Board of Directors has appointed Jim Lightbody as the interim President and Chief Executive Officer. Mr. Lightbody will assume the new role immediately.

Mr. Smith added that BCLC is well-positioned to meet its objectives under the strong leadership of Jim Lightbody. Lightbody has been with the corporation for 13 years, previously serving as Vice President of Lottery Gaming and most recently as the Vice President of Casino and Community Gaming. His background includes more than 25 years of experience in consumer packaged goods, where he held leadership positions with Procter & Gamble, Nabob Foods and BC Hot House.

On behalf of the Board, Mr. Smith thanked Mr. Graydon for his leadership and contributions to BCLC, "Under Michael's leadership, the corporation increased its revenue by $235 million while also significantly expanding its social responsibility programs. He leaves BCLC as a well-run organization with an excellent management team and a committed, dedicated group of employees. We wish him much success in his future endeavours and want to ensure that strong leadership continues during this period of transition."

In a statement to employees about his resignation, Mr. Graydon said, "BCLC makes a vital contribution to the Province of British Columbia and it was a pleasure to be part of such a vibrant and dynamic organization. I know it will continue to fulfill its mandate under the leadership of Jim Lightbody, the strong management team and exemplary staff."

Michael Graydon joined BCLC on March 31, 2008.

In the coming weeks BCLC will determine the process to permanently fill the CEO position.

BCLC makes a vital contribution to the Province and, with its strong management team in place, will continue to fulfill its mandate and generate revenue that benefits all British Columbians.

BCLC is a provincial Crown corporation which offers socially responsible gambling entertainment while generating revenue to benefit all British Columbians.