Interblock, the global leader in luxury gaming products, announced that John Connelly has stepped down from his role as Chief Executive Officer. The Board of Directors has appointed Bala Ganesan, Interblock’s former interim Chief Operating Officer and a Managing Director at Oaktree Capital Management, to serve as interim CEO while a comprehensive search is conducted for a permanent successor. Oaktree-advised investment funds own a majority of the equity interests in Interblock.

“On behalf of the Board and the entire Interblock team, we thank John for his many years of service. Under his guidance, Interblock experienced significant growth driven by a clear vision and entrepreneurial execution. As the Company enters its next phase of growth and innovation, the Board is focused on building a world-class, scalable operating platform and ensuring Interblock is led by the right executive to capitalize on emerging opportunities and sustain its strong growth trajectory,” said David Quick, Interblock Board member.

Mr. Ganesan brings extensive executive leadership and business transformation experience through his role as a Managing Director on the Portfolio Transformation team at Oaktree. He joined Oaktree in 2017 from Yum! Brands, where he led major growth initiatives and the operational and digital transformation of Taco Bell. Previously, Mr. Ganesan led corporate and business strategy, commercial growth, and turnaround initiatives at Kimberly-Clark Corporation and Mattel, Inc. He also served as a senior leader in McKinsey & Company’s operational transformation practice, advising Fortune 500 companies across the consumer, technology, manufacturing, medical devices, energy, and financial services sectors. Mr. Ganesan acted as the Company’s interim Chief Operating Officer from 2024 to 2025.

“Interblock is exceptionally well positioned for continued growth, underpinned by a talented team, industry-leading innovation, and strong customer partnerships. I am honored to support the Company during this transition and remain focused on serving our customers and partners,” said Mr. Ganesan.

Mr. Quick added: “We are fortunate to have Bala step in as interim CEO at this important time. During his tenure as interim COO, Bala demonstrated outstanding leadership, operational expertise, and a deep understanding of our business and industry. The Board has full confidence in his ability to guide Interblock through this transition and ensure we continue to deliver value to our customers and partners.”

The Board has engaged an executive search firm to identify Interblock’s next permanent CEO. During this period, Interblock remains fully committed to advancing its strategic priorities and delivering the high-quality products and services that define the Interblock brand.

Accel Entertainment Inc. announced that Founder and Chief Executive Officer, Andy Rubenstein, has been named Chairman of the Company’s Board of Directors, and Accel’s President – US Gaming, Mark Phelan, has been appointed to the additional role of Chief Operating Officer. As part of these leadership changes, which are effective immediately, Karl Peterson has been appointed as the Lead Independent Director of the Accel Board. In addition, Mr. Phelan has been selected to succeed Mr. Rubenstein as Chief Executive Officer and President, effective August 7, 2026. Mr. Phelan is also expected to join the Accel Board at that time. These changes reflect the Board’s long-term commitment to strong corporate governance and a leadership succession strategy.

Andy Rubenstein commented: “After 17 years, and having built a deep bench of talent, I am confident that transitioning day-to-day leadership to Mark will enable Accel to continue to capitalize on our many growth opportunities. Accel has grown into a public company that is a leader in the route gaming industry, operating across 10 states, partnering with over 4,600 local retail businesses, employing more than 1,600 people, and generating billions of dollars in municipal and state tax revenue over the years in the states we serve. As Chairman, I look forward to continuing my close work with Mark and the Board, as we look to extend Accel’s position as an industry leader and build new value for shareholders.”

“On behalf of the Board, we are grateful to Andy for his outstanding leadership and the foundation and culture of integrity he established that defines Accel today. After careful consideration and discussions with Andy, the Board is confident that now is the right time to effect this transition, as the Company continues to grow and evolve into a scaled, multi-state enterprise. We believe Andy’s new role will allow him to leverage his long-standing local and industry relationships and regulatory experience to help further position Accel to capitalize on promising growth opportunities, including expanding into the Chicago VGT market,” said Karl Peterson.

As Chief Executive Officer and President, Mark Phelan will lead Accel with a continued focus on disciplined execution and operational consistency.

“Accel has a strong foundation, long-standing partnerships, and a culture built on accountability. My focus will be on execution — improving the experience for our location owners and players, driving consistent performance across our markets, operating with discipline, identifying and capitalizing on growth opportunities, and working to create long-term value for shareholders. I am honored that Andy and the Board have selected me to lead Accel and I am excited to build on Andy’s long-term goal to make Accel the clear leader in the U.S. Locals Gaming Market,” said Mark Phelan.

“Mark has a deep understanding of the distributed gaming business and a demonstrated record of effective execution. He understands Accel’s markets, partners, regulators, and players, and has shown the judgment and discipline required to lead the Company at scale. I am very confident and excited about his ability to lead Accel through its next phase of growth,” concluded Mr. Rubenstein.