CEO of Aristocrat Gaming to Take Charge of New Venture upon Completion of IGT-Everi Merger
Aristocrat Gaming Announces CEO Departure, Temporary Successor
Hector Fernandez, the former Chief Executive Officer of Aristocrat Gaming, has abruptly resigned from his position to join a competitor. Fernandez joined Aristocrat Gaming in 2018 as the Chief Financial Officer of its US operations, marking the beginning of his tenure with the gambling technology and content company.
Apollo Global Management, the conglomerate overseeing a soon-to-be-completed $6.3 billion merger between International Game Technology's (IGT) Gaming & Digital Business and Everi, announced that Fernandez would take the helm of the newly formed entity upon the merger's conclusion. According to the agreed terms, Fernandez's contract includes a 12-month non-compete clause that will expire in the fourth quarter of 2025.
Daniel Cohen, a partner at Apollo, commended Fernandez's impressive track record of successfully scaling operations and strengthening customer relationships.
In the interim, Aristocrat Gaming's current Chief Financial Officer, Craig Toner, will assume the vacant CEO position. Toner, who has been with the company for over seven years, will oversee the leadership transition, ensuring a smooth process while maintaining a customer-focused approach and executing the company's existing plans.
Aristocrat Leisure Limited, the parent company of Aristocrat Gaming, expressed its confidence in Toner's ability to guide the company through the transition. Trevor Croker, the group's overall CEO, is optimistic that Toner will "ensure a seamless leadership transition, maintaining a relentless customer focus, and continuing to execute our plans."
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The departure of Hector Fernandez, the former CEO of Aristocrat Gaming, has created a vacancy in the leadership of the company. In the interim, Aristocrat Gaming's current Chief Financial Officer, Craig Toner, will take on the role of CEO, overseeing the transition while maintaining a focus on business operations and customer relationships.
Despite Fernandez's move to a competitor in the industry, his non-compete clause will expire in Q4 2025, likely signifying a possible return to the finance sector of the business world.
