International Game Technology announced that Lorenzo Pellicioli, who has served as acting chairman of the company since the August departure of Phil Satre, is now the permanent chairman.
IGT named Pellicioli as chairperson of the board and named James McCann as vice chairperson and lead independent director. Pellicioli was vice chairperson before Satre left.
“I am honored to serve as chairperson for IGT, and I look forward to working with the directors and senior management to guide continued success in the future,” said Pellicioli.
McCann has served on the IGT board since 2015, and currently chairs the board’s Nominating and Corporate Governance Committee.
For Sands’ Goldstein, Five More Years and a Big Raise
Las Vegas Sands is extending the employment contract of President and COO Rob Goldstein another five years and raising his salary by $1.1 million.
The new agreement amends the company’s current 2014 agreement with the longtime Sands executive under which he is paid a base salary of $3.4 million a year. As of January 1, 2020, that goes up to $4.5 million with options to purchase up to 2.5 million shares of LVS in installments of 500,000 shares over several years.
The new agreement runs through 2024.
Goldstein, second in command to Chairman and CEO Sheldon Adelson, joined LVS in 1995, and from 1999 to 2010 served as president and chief operating officer of the company’s Las Vegas Strip flagship, the Venetian, and later its sister resort, Palazzo. In 2011, he was named president of global gaming operations.