International Game Technology has confirmed that its Executive Vice President and Chief Financial Officer Alberto Fornaro is retiring. He will stay on until January next year, at which point he will be replaced by the organisation’s current Senior Vice President and Accounting Officer Timothy Rishton, on an interim basis. A company meeting saw the Board approving the move unanimously.
Fornaro commented on the Board’s decision, saying that it has been an honour to serve IGT as EVP and CFO and participate in its success over the past eight years. He explained his resignation, saying that the accomplishment of vital refinancing activity and the successful institution of strong money management practices means its time for him to embrace a new challenge.
Marco Sala, Chief Executive Officer of IGT, extended his thanks to Fornaro, both personally and on behalf of the Board, for his excellent leadership and superb contributions during his time at the company. Sala said that Fornaro’s role in IGT’s improving in its operational and financial spheres was why they succeeded and made specific mention of the big, strategically important contracts that have been secured while he was there and which are set to run for the next few years.
One of these is IGT’s recent launch of sports betting operations in Oregon, in the USA. Its PlaySports technology will be powering retail sports betting at North Bend’s The Mill Casino. This software allows players at the tribal casino to wager in person at the counter and via kiosks at the venue.
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