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Cruise line CFO leaves for gaming post

Thursday, July 11, 2002 | 10:58 a.m.

MIAMI -- Royal Caribbean Cruises Ltd., which plans to merge with P&O Princess Cruises Plc, said its chief financial officer, Richard Glasier, is resigning to become president of casino company Argosy Gaming Co.

Glasier, 57, was the No. 2 cruise company's chief financial officer for 17 years, spokesman Michael Sheehan said.

Glasier wasn't tapped to be a top executive when London- based P&O Princess and Royal announced the $7.4 billion merger agreement, said Lehman Brothers analyst Felicia Rae Kantor.

"The writing was on the wall then that he would be moving on," said Kantor, who rates Royal a "market perform."

Alton, Ill.-based Argosy owns six riverboat casinos in Midwest and southern markets including Alton, Ill., and Sioux City, Iowa.

Glasier previously worked for Ramada Inns with the company's casino and hotel divisions. Glasier will assume the president position from James Perry, who will remain as chief executive, said Treasurer Dan Marshall.

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