Leading slot manufacturer International Game Technology named Patrick Cavanaugh as the company’s new executive vice president and chief financial officer. The company has been without a CFO since Maureen Mullarkey resigned last summer.
In a separate announcement, the manufacturer named Richard Schneider its new executive vice president of product strategy.
Cavanaugh was formerly vice president of corporate finance and investor relations for IGT, a position he held since April 2004. Prior to that, he was CFO and treasurer for Oasis Technologies and Casino Data Systems.
“Pat brings to the table a unique combination of extensive gaming industry experience as a financial executive, familiarity with Wall Street, and intimate knowledge of IGT,” said TJ Matthews, IGT chairman and chief executive officer, of the promotion. “He has played an integral role in the financial management of the company since the departure of the previous CFO in 2007, and I look forward to Pat’s future contributions and leadership in his new role.”
Schneider has been IGT’s executive VP of server-based gaming since 2006, and president of IGT Systems since 2004. “In his new role, Rich will integrate IGT systems and games into one organization, a change that is reflective of our realization of the need to converge these two once-separate worlds into one unified product offering,” Matthews said. “Rich’s past experience makes him uniquely qualified to bring these two areas together to deliver exciting value-added network, game and customer service applications to our customers.”