Scientific Games names new CFO as Quartieri steps down

22nd May 2020 7:34 am GMT

Scientific Games Corp. has appointed Mike Eklund to serve as its chief financial officer effective June 1.

Eklund assumes the role from Michael Quartieri, who has served as CFO since 2016 and will step down at the end of June to pursue opportunities outside the gaming industry, although he will serve as a consultant to the company until the end of the year.

Eklund joins Scientific Games from market research firm IRI, where he served as CFO since July 2019, having previously spent more than 20 years at Dell Technologies in financial and operational roles.

“Mike Quartieri has done an outstanding job over the last four years building a world class financial team, revitalizing our financial management and refinancing our debt.  The Board of Directors and I are very grateful for Mike's constant dedication to the success of the Company and its people,” said Barry Cottle, chief executive of Scientific Games.

“Mike now wants to move to a new industry with new challenges after many years in the gaming business.  He wanted to leave earlier this year but, after the COVID-19 pandemic hit, Mike agreed to stay to help the Company with that crisis.  Mike has led our efforts to reduce our cash burn while preserving key operations, developing plans to manage through the pandemic, preparing to be an even stronger competitor as we emerge from the crisis and working with our lenders to get our Credit Agreement amended to provide covenant relief.   With those key steps taken, we are now ready to proceed with the transition to a new CFO.”

“We are very fortunate to have Mike Eklund join us starting on June 1,” Cottle added. “He has a wealth of experience in financial and operational leadership and a passion for aligning all aspects of a company's finance and operations with its core business model that positions him well to build on Mike Quartieri's legacy.”

Shares in Scientific Games Corp. (NASDAQ:SGMS) closed 0.55 per cent lower at $14.37 per share in New York Thursday, prior to the announcement.

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