Italian gaming operator SNAI has named Chiaffredo Rinaudo as its new chief financial officer following the company’s merger with fellow operator Cogemat Group.

The company said that Rinaudo has been appointed to "kick-start" a new phase of growth, with the current CFO of Cogemat’s main Cogetech brand taking charge of SNAI’s administration, finance and control department.

He has served as Cogetech’s CFO since October 2013, and will join Cogemat’s current CEO Fabio Schiavolin on SNAI’s management team.

SNAI and Cogemat agreed their merger in May last year, with the former’s chief executive Giorgio Sandi stepping down as a result to be replaced temporarily by Alitalia CEO Gabriele del Torchio until completion of the merger.

In his new position Rinaudo will be responsible for devising the financial strategy for all companies in the merged group in order to obtain financial resources and ensure the business can grow in the medium- to long-term.

He will supervise administrative, financial and control activities in observance of Italy’s gaming and company regulations, as well as the purchase process for all group companies. Rinaudo will also analyse macro-economic trends and handle communications with shareholders, stakeholders and independent auditors.

Shares in SNAI S.p.A (Co.Data) (MIL:SNA) are currently trading up 0.14 per cent at €0.73 per share in Milan this morning.

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