IGT appoints Vincent Sadusky as new CEO20th January 2022 1:50 pm GMT
New York-listed supplier International Game Technology (IGT) has appointed Vincent Sadusky as CEO to replace Marco Sala, who takes over as executive chair and is slated to become the next CEO of IGT’s majority shareholder De Agostini.
In a number of changes to the company's executive team and board, IGT confirmed that Lorenzo Pellicioli will retire as chairperson of the IGT board, but will remain a non-executive director.
Marco Sala will step down as CEO and become executive chair of the board, effective next Monday, with Vincent Sadusky taking over as CEO and named an executive director of the board.
Sala has also been proposed by B&D Holding, the controlling shareholder of De Agostini, as the next CEO of De Agostini, succeeding Lorenzo Pellicioli, who is retiring from the position.
“The changes to the IGT executive team and board are an important step in positioning the company for the next phase of its evolution,” said Pellicioli. “The actions further strengthen IGT's capabilities to execute on its long-term strategy and the value creation initiatives identified in the company's recent investor day.
“It is a natural evolution for Marco to lead the IGT board. More importantly, during his 19-years at IGT and its predecessor companies, he has a proven track record of success and has earned the trust and respect of IGT's customers, investors, business partners and regulators. As executive chair, Marco will focus on managing the board, corporate governance, including sustainability initiatives, and guiding the strategic direction of IGT.”
New CEO Sadusky has served on the IGT board since 2020 and most recently chaired its audit committee. He was formerly CEO and board member of Univision Communications from 2018 to 2020, the largest Hispanic media company in the US, and also also served as CEO and board member of local TV station broadcasters Media General and LIN Media.
“I am looking forward to taking on the new role of executive chair at IGT and to partner with Vince, with whom I have worked extensively over the years, in leading IGT forward,” said Sala. “I believe our skills and experiences are complementary and will serve our stakeholders well.
“In particular, Vince's vast experience with portfolio companies and capital markets will be valuable as we look to execute on our strategy.”
Commenting on his appointment as CEO, Sadusky said: “IGT is well-positioned for the future, and I am very excited to join the company as its next CEO. With a seasoned executive team and very talented group of employees across the world, it represents a great opportunity for me to support an industry leader in the next phase of its growth.”
Pellicioli added: “Vince brings a unique set of skills to the role, where he combines his knowledge of IGT with his demonstrated ability to create shareholder value with decades in leadership roles in public and private companies in dynamic industries, including digital and media. His transition into the CEO role will be relatively seamless.”
IGT has also appointed Maria Pinelli and Ashley Hunter as non-executive directors of the board.
Pinelli previously served in a variety of leadership roles at accounting firm EY from October 1986 to November 2020, and currently serves as a board member for Globant and board director and chair of the audit committee for Archer Aviation and Clarim Acquisition Corp.
Hunter has been a lecturer at the University of Texas at Austin School of Information since 2015, and is the founding partner of risk management advisory firm A. Hunter & Company. Previously she was managing director of HM Risk Group, where she assisted start-ups and companies with alternative risk transfer schemes and reinsurance placement.
"We are delighted to have Maria and Ashley join our board,” continued Pellicioli. “They both bring deep and diverse professional experiences to IGT to enhance our board composition. We are looking forward to their contributions.”
Shares in International Game Technology plc (NYSE:IGT) closed 3.19 per cent lower at $27.05 per share in New York Wednesday.