Online gambling e-cash processor Neovia plc (Neteller) has confirmed the departure date for CEO Ron Martin as May 31st 2009. On that date Martin will step down from his position on the board of directors, with executive chairman Dale Johnson assuming responsibility for the CEO portfolio until a replacement is found.

Johnson will be assisted by Dan Starr, Executive Vice President, and Doug Terry, Chief Financial Officer, in the day-to-day executive management of the group’s business. These responsibilities are in addition to their existing roles.

Johnson commented “On behalf of the Board and management team, I would like to thank Ron for his significant contribution to the Group over four challenging years. In the current challenging market conditions, the Board and management team are focused on maximising revenues in the short term, maintaining control over costs and preserving cash to deliver value for all shareholders.”