New York-listed gambling technology group International Game Technology Plc (IGT) has confirmed that senior executive Alberto Fornaro has chosen to end his tenure as Chief Financial Officer (CFO).
Fornaro will leave the management team on 31 January 2020 to ensure a smooth corporate transition.
IGT’s board of directors has unanimously approved the appointment of Timothy Rishton, current Senior VP and Chief of Group Auditing, to serve as interim CFO as it undertakes an executive search for Fornaro’s replacement.
IGT Group Chief Executive Marco Sala praised the eight-year tenure for Fornaro, who served as a key stakeholder for the company through multiple transitions merging the business domains of IGT, GTech and Lottomatica.
“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,” said Sala.
“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. We look forward to an orderly and seamless transition of his responsibilities, and wish him well in his future endeavours.”
Fornaro added: “It has been a great honour 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.”