US gaming and lottery supplier Scientific Games Corporation has appointed Scott Schweinfurth as executive vice president and chief financial officer, replacing Jeffrey Lipkin in the role.

Schweinfurth has been with the Scientific Games-owned WMS Industries, which was acquired in a $1.5bn deal last year, since 2000 and served as the company’s executive vice president, CFO and treasurer.

During his time with the business, Schweinfurth saw the company’s revenue treble and its market capitalisation increase sixfold. Before joining WMS he spent five years as senior vice president, CFO and treasurer of fellow gaming software supplier Bally Technologies.

Before entering the gambling sector he spent 18 years at Ernst & Young, and is also a registered public accountant.

“As we move forward in implementing our integration plans, we are firmly committed to continue to achieve organization efficiencies and cost reductions, and to improve our performance and cash flow,” Scientific Games president and chief executive David Kennedy commented.

“Scott will provide strong financial and strategic leadership as we focus on optimizing our ongoing cost structure and improving efficiencies in our business and financial processes; and he will continue to lead our integration efforts,” Kennedy continued. “I believe we have the right people in the right positions to deliver the significant opportunities created by the combination of WMS with Scientific Games.”

Schweinfurth replaces Jeffrey Lipkin, who has served as CFO since 2009. Lipkin joined the supplier from multinational financial services business Credit Suisse, where he served as managing director for the company’s media and telecommunications arm. No reason has been given for his departure.

“Jeff has been a key member of the leadership team during the last five years and helped to build Scientific Games,” Kennedy said of Lipkin. “His commitment and contributions to our company were invaluable and we wish Jeff continued success in his career.”

Scientific Games has appointed William Pfund, another former WMS executive, as vice president of investor relations. Pfund has worked for WMS since May 2006.

Shares in Scientific Games Corporation (Co. Data) (NASDAQ:SGMS) closed at $13.30 per share in New York yesterday, down 3.69 per cent in trading.

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