US gaming and lottery supplier Scientific Games Corporation has ended its search for a new chief financial officer by promoting former Las Vegas Sands executive Michael Quartieri to the position, just a month after he joined the business.

Quartieri will take on the role of executive vice president, chief financial officer and secretary, based in the company’s Las Vegas headquarters. His promotion will be effective after the company files its 2015 Form 10-K (annual report).

He replaces Scott Schweinfurth in the role, who will retire from the company after just over two years as senior vice president, CFO and chief integration officer.

Quartieri joined Scientific Games last month as vice president and corporate controller, having spent the past nine years working for major land-based operator Las Vegas Sands Corporation, rising to the role of senior vice president, chief accounting officer and global controller.

Previously he had a 13-year tenure working for multinational professional services business Deloitte & Touche LLP, serving as director of audit and assurance services, specialising in gaming and hospitality clients.

Described by Scientific Games as having “extensive experience in closely managing and optimizing finance functions for a large, global publicly traded corporation,” Quartieri will take responsibility for the supplier’s finance function including accounting, financial planning and reporting, internal controls, investor relations, treasury tax and financial operations.

“Michael has a proven track record of achieving results by partnering with operations to drive growth and cash flow, while implementing significant strategic, financial, and operational improvements,” Scientific Games president and chief executive Gavin Isaacs said.

“He has quickly become a key member of our leadership team, and we look forward to Michael's many contributions in the years ahead.”

Shares in Scientific Games Corporation (Co.Data) (NASDAQ:SGMS) closed up 3.91 per cent at $7.44 per share in New York yesterday.

 

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