May 10, 2010 (CAP News Wire) – Global online gaming software provider CryptoLogic Limited has appointed a new Chief Financial Officer, the company stated in a news release issued on May 6.

The new executive for the software firm — among the biggest in the online gambling industry — has been identified as Huw Spiers, a Fellow of the Institute of Chartered Accountants in England and Wales, and former CFO at dotMobi, one of Ireland’s major domain name registrars and mobile technology providers. He replaces Stephen Taylor, who will stay with the firm for an unidentified period of time as he assists CryptoLogic’s Canadian subsidiary “for a transitional period”.

What will this latest development in CryptoLogic’s management restructuring program (which Spiers assisted, according to CEO Brian Hadfield) mean for the future of the iGaming software provider and the online casinos (not to mention affiliate marketings) who use its games?

Given that CryptoLogic is a publicly traded company, this news may help corporate confidence and buoy the firm’s share prices healthy, which have been suffering lately. In addition to providing greater stability for its many Internet casino partners, that’s likely a new positive for the entire online gambling industry, the share prices of which are closely watched in European financial circles (particularly in the UK).

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