Penn National Gaming names former Apple executive as CFO

24th January 2020 11:19 am GMT

US racing and gaming operator Penn National Gaming has appointed former Apple executive David Williams as its new chief financial officer (CFO).

Williams will take up his position on 3 March and succeeds incumbent CFO William ‘B.J’ Fair, who announced his resignation last September.

Williams brings a wealth of finance, technology and strategic management expertise to the role following more than 20 years as a finance executive at tech giant Apple.

He joined Apple in 1995 and became CFO and controller of Apple’s B2B software subsidiary Claris division, formally known as FileMaker, in 2012.

In his new position at Penn National, Williams will be responsible for the operator’s financial and treasury functions, as well as developing the company’s strategic growth initiatives, including its growing iGaming and sports betting businesses.

“Dave brings extensive technology, financial, and strategic growth experience to his new role,” said Penn National Gaming chief executive Jay Snowden. “His background will be an invaluable asset to our senior management team, finance and accounting departments, and board of directors as we continue to evolve from the nation’s largest regional gaming operator, with 41 properties in 19 states, to a best-in-class omni-channel provider of retail and online gaming and sports betting entertainment.

“Finally, I want to express my sincere gratitude to B.J for his many contributions to Penn National’s success over the last five years and for helping to ensure that this CFO transition will be managed seamlessly and efficiently. On behalf of the board of directors and everyone at Penn National, we wish B.J the very best in all of his future endeavors.”

Commenting on his new appointment Williams said: “I am very impressed by Penn National’s strategic vision and look forward to taking part in the company’s ongoing growth story, which focuses heavily on my expertise in the interactive space.

“I look forward to working with Jay, the corporate and property management teams and the board of directors to achieve our strategic and financial goals.”

Shares in Penn National Gaming Inc (NSQ:PENN) closed up 2.53 per cent at $25.90 per share in New York Thursday.

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