IGT Announces Leadership and Board Changes – Gaming News Europe
International Game Technology PLC announced that on January 14, 2022, its Board of Directors implemented a number of changes to the company’s management team and Board of Directors.
Lorenzo Pellicioli will retire as chairman of the board of IGT and will remain a non-executive director. Marco Sala, currently CEO of IGT, will become executive chairman of the board. Vincent Sadusky will become CEO and Executive Director of the Board. These changes will come into effect on January 24, 2022.
In a separate statement today, B&D Holding SpA, the majority shareholder of De Agostini SpA, announced that Marco Sala will be proposed at the June 2022 meeting of the corporate bodies of De Agostini as the next CEO of De Agostini, succeeding Lorenzo Pellicioli, who is retiring from the post.
“The changes to IGT’s leadership team and board of directors are an important step in positioning the company for the next phase of its evolution. The shares further bolster IGT’s ability to execute on its long-term strategy and value creation initiatives identified at the company’s recent Investor Day. It is a natural evolution for Marco to lead IGT’s Board of Directors. Most importantly, in his 19 years with IGT and his predecessors, he has proven himself and earned the trust and respect of IGT’s customers, investors, business partners and regulators. As Executive Chairman, Marco will focus on board management, corporate governance, including sustainability initiatives, and the strategic direction of IGT.
“Similarly, we are delighted to announce that Vince Sadusky, a seasoned executive, longtime member of IGT’s current board of directors as well as his predecessors and former chair of our audit committee, will succeed Marco as CEO. Vince brings a unique set of skills to this position, 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 to the CEO role will be relatively seamless,” noted Lorenzo Pellicoli, President of the IGT.
“I look forward to taking on the new role of Executive Chairman at IGT and partnering with Vince, with whom I have worked extensively over the years, to drive IGT forward. I believe our skills and experiences are complementary and will serve our stakeholders well. In particular, Vince’s extensive experience with portfolio companies and capital markets will be invaluable as we seek to execute our strategy.” noted Marco Sala, CEO of IGT.
“IGT is well positioned for the future and I am very excited to join the company as the next CEO. With a seasoned management team and a group of highly talented employees across the globe, this presents a great opportunity for me to support an industry leader in the next phase of its growth,” noted Vincent Sadusky.
The board has also appointed Maria Pinelli and Ashley Hunter as non-executive directors of the board. Ms. Hunter was also appointed to the Company’s Nominating and Corporate Governance Committee and Ms. Pinelli was appointed Chair of the Company’s Audit Committee, replacing Vincent Sadusky. These changes came into effect on January 14, 2022.
“We are delighted to have Maria and Ashley join our Board of Directors. They both bring deep and diverse professional experiences to IGT to enhance the composition of our Board of Directors. We look forward to their contributions,” noted Lorenzo Pellicoli, president of the IGT.
Biographies of Officers and Directors
Lorenzo Pellicoli served as Chairman of the Board of IGT from November 2018 to January 2022 after serving as Vice Chairman since April 2015. From August 2006 to April 2015 he served as Chairman of the Board of GTECH SpA (formerly Lottomatica group). He has been CEO of De Agostini SpA since November 2005. He was also a director of IDeA Alternative Investments SpA and general manager of DeA Factor SpA. Mr. Pellicioli is chairman of the board of directors of DeA Capital, as a director of Banijay Group SAS and LDH SAS, and he is also a member of the remuneration committee and of the appointments and corporate governance committee and a director of the board of directors of Assicurazioni Generali.
Marco Sala was CEO of IGT from April 2015 to January 2022. In addition to serving on the board of IGT as CEO, in May 2020 he was appointed to the board of directors of De Agostini SpA Before April 2015, he served as CEO of GTECH SpA (formerly Lottomatica Group) from April 2009 and was responsible for overseeing all segments of the company including Americas, International, Italy and Products and services. He joined the Company as Co-Chief Executive Officer in 2003 and has since served as a member of the Board of Directors. In August 2006, he was appointed Managing Director responsible for the company’s Italian operations and other European activities. Previously, he was CEO of Buffetti, the leading Italian retail chain for office equipment and supplies. Before Buffetti, Sala was head of the business directories division for SEAT Pagine Gialle. Earlier in his career, he worked at Magneti Marelli (a Fiat Group company) and Kraft Foods.
Vincent Sadusky served as CEO and member of the Board of Directors of Univision Communications from 2018 to 2020, the largest Hispanic media company in the United States, operating multiple broadcast and cable networks, local television and radio stations, digital video and audio streaming. Prior to Univision, he was CEO and board member from 2014 to 2017 of Media General, a local television and digital media company with over 50 television stations and 5,000 employees. From 2006 to 2014, he was CEO and member of the board of directors of LIN Media, a broadcaster of local television stations and a digital media company. He also served as CFO of LIN Media from 2004 to 2006 and CFO of Telemundo Communications from 1999 to 2004. In addition to serving on IGT’s board of directors since 2010 and more recently chairing its audit committee, Sadusky has served on the boards of the Paley Center for Media, the National Association of Broadcasters and served as treasurer of the NBC Affiliates Board. Earlier in his career, he worked at Ernst & Young and co-founded JVB Financial Group and Zeus Financial, fixed income trading firms.
Marie Pinelli is a global C-suite executive who is currently a member of the board of directors of Globant and a director of the board of directors and chair of the audit committee of Archer Aviation, Inc. and Clarim Acquisition Corp. She held various leadership roles at EY from October 1986 to November 2020, including Consumer Products and Retail Leader, Global Vice President – Strategic Growth Markets, Global IPO Leader and the leader in the Americas – strategic growth markets. In her advisory role at EY, she successfully led over 20 IPOs in four different countries and over 25 M&A transactions globally. His experience includes strategic transactions and due diligence advice, Sarbanes-Oxley implementation and stakeholder management. She has served as an advisor to some of the world’s most iconic e-commerce, consumer products and retail brands.
Ashley Hunter has been a lecturer at the University of Texas at Austin School of Information since 2015 and is the founding partner of A. Hunter & Company, a leading risk management consulting firm. Previously, she was Managing Director of HM Risk Group LLC, where she assisted numerous startups and companies with alternative risk transfer and reinsurance placement programs, globally. Under his leadership, HM Risk Group has become a leader in the development of niche insurance products for the sharing and assisted reproductive technologies industry. Prior to founding HM Risk Group in 2006, she held various claims and underwriting management positions for State Farm Insurance Companies, The Hartford Insurance Company and AIG Insurance Company.