Global gaming giant Aristocrat Leisure Limited has announced the resignation of Hector Fernandez as CEO of Aristocrat Gaming, effective immediately, to lead the new enterprise combined entity that will bring together Everi Holdings and IGT’s gaming and digital business.
In a late Thursday filing, Aristocrat also made it clear that Fernandez – who joined the company as CFO of the Americas Gaming business unit in 2018 before being appointed CEO of Aristocrat Gaming in 2022 – has contractual obligations that include a 12 month non-compete clause. The merger of the Everi and IGT businesses, which were acquired by Apollo Global Management in July, is not expected to be completed until the third quarter of 2025.
Fernandez will be replaced as CEO of Aristocrat Gaming by Craig Toner, a company veteran of more than seven years and currently CFO & Executive Vice President of Operations for the Aristocrat Gaming division. Toner’s promotion is itself effective immediately, subject to the receipt of necessary regulatory pre-approvals.
According to information filed with the ASX, Toner previously spent almost 20 years in senior commercial, strategy and operational roles at Lion Ltd, one of Australia and New Zealand’s largest alcohol and beverages businesses. He is a CPA with a Bachelor of Management Studies, Accounting and Finance.
“Craig has been a key part of the global Aristocrat Gaming leadership team that has delivered strong growth and transformational change over recent years,” said Aristocrat CEO and Managing Director, Trevor Croker.
“He has also worked closely with our Board and Executive Steering Committee on a number of major strategic and operational priorities. Craig is people oriented, highly collaborative and impactful. We are delighted to be able to elevate a proven and capable leader of Craig’s calibre to this role, demonstrating again the depth of talent we have built at Aristocrat.
“Craig will ensure a seamless leadership transition, maintaining a relentless customer focus, and continuing to execute our plans. Aristocrat Gaming today is a global team with extraordinary resilience, depth and momentum, and I have every confidence that Craig will continue to build on this going forward, with the support of the many talented leaders across our global business.
“We thank Hector sincerely for his commitment and recognize his contribution to our business over the last six years.”
In a statement issued overnight, Apollo Partner Daniel Cohen said, “We’re thrilled to name Hector Fernandez as the future CEO of the combined enterprise. As we look to position IGT Gaming and Everi as a premier, diversified customer-centric platform at the forefront of innovation in the gaming and fintech industries, Hector brings an impressive track record of successfully scaling operations and strengthening customer relationships while being a champion for strong values. Hector shares our vision to lead this talented global workforce and will foster a people-first culture across the combined enterprise.”
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