Hector Fernandez, the former CEO of Aristocrat Gaming, has made a sudden departure from the company to join a competitor. He first joined the gambling technology and content company in 2018 as the CFO of US operations. However, he will now be taking over as the head of the new entity resulting from the merger between Everi and IGT’s Gaming & Digital division.
Apollo Global Management, the company behind the merger, has announced that Fernandez will assume his new role once the $6.3 billion deal is finalized and his 12-month non-compete clause expires in Q4 of 2025. Apollo Partner Daniel Cohen praised Fernandez’s track record of scaling operations and strengthening customer relationships.
In response to Fernandez’s departure, Aristocrat Gaming has appointed Craig Toner, the current CFO, to take over his position immediately. Toner has been with the company for over seven years and is expected to ensure a smooth leadership transition while maintaining a strong focus on customers and executing the company’s plans.
Trevor Croker, the overall CEO of Aristocrat Leisure Limited, the parent company of Aristocrat Gaming, expressed confidence in Toner’s ability to lead the company through this transition and continue delivering on their strategic objectives.
Overall, the sudden departure of Hector Fernandez has led to a significant leadership change at Aristocrat Gaming, but the company is confident in its ability to navigate through this transition and continue serving its customers effectively.