On December 31, David Williams stepped down as executive vice president and chief financial officer for Penn National Gaming Inc. In January, the company announced that, subject to customary regulatory approvals, Felicia Hendrix would take his place. Hendrix will join Penn National as executive vice president and CFO on March 2 following more than 20 years as an equity research analyst covering the gaming, lodging and leisure industries.
Hendrix will report directly to Penn National Chief Executive Officer Jay Snowden. Williams has agreed to stay with the company in a temporary advisory role to help ensure a smooth transition.
Hendrix most recently was a managing director and equity research analyst at Barclays covering the gaming, lodging and leisure industries, and had been consistently recognized in the Institutional Investor All Americas Research Team polls.
Her varied coverage universe spanned companies with market caps ranging from $2.5 billion to $45 billion, and comprised differing revenue bases, cost structures, leverage levels and management depth.