IGT Ushers in New Era of Leadership with Incoming CEO Hector Fernandez
Rhea-AI Summary
IGT (NYSE:IGT) appointed Hector Fernandez as CEO of the combined enterprise, effective after receipt of regulatory approvals, and said he will also oversee the Gaming business unit.
Fernandez is based in Las Vegas and was formerly CEO of a global competitor; the company said his experience driving market share, revenue growth and profitability will guide integration of legacy IGT and Everi teams in partnership with Apollo. Nick Khin will step down as interim enterprise CEO and Gaming CEO and transition to a strategic advisor role. IGT's Digital and FinTech units will remain led by Gil Rotem and Darren Simmons, respectively.
Positive
- Appointed experienced gaming CEO Hector Fernandez to lead combined enterprise
- Board and Apollo express support for integration and growth plans
- Nick Khin retained as strategic advisor to support transition
- Digital and FinTech leadership remains stable under Gil Rotem and Darren Simmons
Negative
- Fernandez's CEO role is conditional on receipt of regulatory approvals
- Leadership transition could create near-term integration uncertainty
Insights
IGT names Hector Fernandez as CEO, signalling leadership continuity during the IGT–Everi integration under Apollo ownership.
Hector Fernandez, a former CEO at a global competitor, will lead the combined enterprise and oversee the Gaming business unit following receipt of regulatory approvals. The appointment centralizes executive authority for integration and strategic execution while Digital and FinTech remain under existing leaders, which preserves operational continuity across those units.
The outcome depends on successful regulatory approvals and on execution of integration tasks described by management; the announcement cites expected benefits like accelerated growth and enhanced innovation but provides no measurable targets or timelines. Key items to watch include regulatory approval timing and conditions, senior hires referenced as "key new hires," and any concrete integration milestones announced over the next 6–12 months.
Proven Gaming Executive to Lead IGT's Next Phase of Growth and Innovation
Fernandez brings a strong track record of success in gaming and technology to his role at IGT, having most recently served as CEO of one of IGT's global competitors. Over the course of his career, Fernandez has been recognized for his leadership role in strategic initiatives that propelled market share, revenue growth and increased profitability. He is based in
"I'm honored and excited to lead IGT into its next chapter," said Hector Fernandez. "This is a company with strong talent, deep industry relationships, and significant potential. As we bring together the legacy IGT and Everi teams, in partnership with Apollo, we have an opportunity to evolve how we operate, innovate, and deliver for our customers. I'm looking forward to working with our teams around the world to define what's next for IGT."
"Led by Hector and a talented team of leaders from across the legacy IGT Gaming & Digital and Everi businesses, as well as key new hires from inside and outside the industry, we believe the combined enterprise will accelerate growth, enhance product and content innovation, and become an even stronger partner to its customers," said Daniel Cohen, Partner at Apollo and Chair of IGT's Board of Directors. "Hector shares our commitment to fostering a high-performing, people-first culture, and we are confident he will lead this team to new heights."
IGT also announced today that Nick Khin, who had previously served as interim enterprise CEO and CEO of the Gaming business unit, will be stepping down from his position with the company and transitioning into a role as a strategic advisor to the senior leadership team and board of directors.
"Nick has contributed greatly to IGT's progress over the past twelve years," said Fernandez. "His leadership through this transition period has been invaluable to the organization, and I want to thank him for his dedication and impact. We appreciate his continued guidance as we move into this next chapter."
Fernandez will assume the role of CEO of the combined enterprise and oversee the Gaming business unit following receipt of regulatory approvals. IGT's Digital business unit will continue to be led by Gil Rotem and IGT's FinTech business unit will continue to be led by Darren Simmons.
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About IGT
IGT is a leading global provider of gaming, digital and financial technology solutions, formed through the combination of International Game Technology PLC's Gaming & Digital Business and Everi Holdings Inc. IGT's offering spans gaming machines, game content and systems, iGaming, sports betting, cash access, loyalty and player engagement solutions, enabling it to deliver integrated, customer-centric experiences across land-based and digital environments. Organized into Gaming, Digital and FinTech business units, IGT drives innovation, efficiency and value for casino, digital and hospitality operators worldwide. The company is headquartered in
Contact:
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SOURCE IGT
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