New CFO for Scientific Games

2014-04-07

Reading time 1:34 min

(US).- Scientific Games has announced that Scott Schweinfurth has been promoted to executive vice president and chief financial officer. He replaces Jeffrey Lipkin, who will help facilitate a seamless transition. Schweinfurth will continue to be based in the Chicago area.

“As we move forward in implementing our integration plans, we are firmly committed to continue to achieve organisation efficiencies and cost reductions, and to improve our performance and cash flow,” said David Kennedy, President and CEO.

“Scott will provide strong financial and strategic leadership as we focus on optimising our ongoing cost structure and improving efficiencies in our business and financial processes. And he will continue to lead our integration efforts.

During his 13 years as WMS' Executive Vice President, Chief Financial Officer and Treasurer, Mr. Schweinfurth was an effective leader and collaborator who drove meaningful improved performance as WMS' revenue grew more than threefold and its market capitalization increased more than sixfold from 2000. From 1995 until joining WMS in 2000, he served as Senior Vice President, Chief Financial Officer and Treasurer of Bally Technologies.

Previously, he had been at Ernst & Young for 18 years, serving the last six years as an audit partner. Mr. Schweinfurth, a registered certified public accountant, was recognized for his financial leadership by being named a Best CFO in the Gaming and Lodging industry by Institutional Investor Magazine from 2009 to 2011.

"Jeff has been a key member of the leadership team during the last five years and helped to build Scientific Games," Mr. Kennedy said. "His commitment and contributions to our Company were invaluable and we wish Jeff continued success in his career."

Pfund Named Vice President of Investor Relations

The Company also announced William H. Pfund will lead investor relations for the Company. Mr. Pfund joined WMS in May 2006 and during the succeeding seven years led investor relations and helped enhance the recognition of WMS within the investment community and global gaming industry.

Prior to WMS, he was Vice President of Investor Relations and Corporate Communications at Snap-on Incorporated since 1999 and prior to that held the same position at Rubbermaid Incorporated. Mr. Pfund was recognized for his efforts in helping investors by being named a Best IR Professional in the Gaming and Lodging Industry by Institutional Investor Magazine from 2009 through 2011.