Gaming technology and services provider, IGT has confirmed that its EVP and CFO Alberto Fornaro is stepping down. Fornaro will hold the position until January 2020. He will be replaced by the company’s current SVP and Chief Accounting Officer, Timothy Rishton. However, Rishton would be appointed on an interim basis.
In a meeting, the company’s board unanimously approved the move to replace Fornaro.
Commenting on the Board’s decision Fornaro said: “It has been a great honor to serve as IGT CFO and to participate in the company’s success during the last eight years.
“With the recent completion of important refinancing activity and a strong finance organization in place, it is the right time for me to move on to a new challenge.”
Marco Sala, the IGT CEO, said: “I would like to thank Alberto, both personally and on behalf of the IGT Board of Directors, for his leadership and outstanding contribution during the last eight years as CFO of first GTech and later IGT.
“Alberto played a significant role in improving our financial and operational performance, including helping to secure large, strategically important contracts for the next several years.”
Recently, IGT launched its sports betting operations in Oregon. IGT confirmed that now its PlaySports technology is powering retail sports betting at The Mill Casino in North Bend, Oregon.