Fernandez Resigns from Aristocrat to Head IGT/Everi

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Hector Fernandez has resigned his post as CEO of slot supplier Aristocrat Gaming, and will become CEO of the combined enterprise formed by Apollo Global Management through the acquisition of IGT’s gaming division and Everi Holdings, Inc.

The news came December 5 via separate press announcements by Apollo, which announced the hiring of Fernandez, and Aristocrat, which announced Fernandez’s resignation but did not identify the competitor to which he was moving.

In July, IGT and Everi announced definitive agreements under which IGT’s gaming & digital business and Everi, the slot and fintech company, will be simultaneously acquired by a newly formed holding company owned by funds managed by affiliates of Apollo.

Aristocrat announced that gaming Chief Financial Officer Craig Toner has been appointed to replace Fernandez, effective immediately.

Toner has been with Aristocrat for over seven years and prior to that worked at alcohol and beverages business Lion in Australia for almost 20 years.

“Craig will ensure a seamless leadership transition, maintaining a relentless customer focus, and continuing to execute our plans,” said Trevor Croker, CEO of parent company Aristocrat Leisure Limited. “We thank Hector sincerely for his commitment and recognize his contribution to our business over the last six years.”

Fernandez started as CFO of the Americas gaming business for Aristocrat in 2019, and was named CEO of the gaming business in 2022. The company noted that his relevant contractual obligations include a 12-month non-compete obligation, which likely will expire shortly after the Apollo acquisition is finalized.