NEW YORK, Nov. 19, 2013 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) (the "Company") announced today that its Board of Directors has appointed
David L. Kennedy as Chief Executive Officer, who will succeed
A. Lorne Weil effective immediately. The Board of Directors also determined to separate the roles of Chairman and Chief Executive Officer and has appointed
Ronald O. Perelman as its Chairman.
Mr. Perelman said, "We are fortunate to have someone of David's caliber step in and lead the Company at this important time. Having served on the Board for the last four years as Vice Chairman and as a member of the Executive and Finance Committee, and as an executive of Scientific Games from 2010 to 2012, David understands the business extremely well and is ideally qualified to work with the management team to further improve results, oversee the integration of WMS Industries, and work with the Board to facilitate an ongoing succession process. The Board is confident that he and the Company's outstanding management team will accelerate business performance and continue to build a strong, profitable company."
"I am honored that the Board has selected me to lead Scientific Games and I am excited about the opportunity to work with the talented executive team in place to continue to grow the business," said Mr. Kennedy. "Scientific Games is well positioned to offer customers a complete suite of products and services, expand opportunities for our employees and drive enhanced value for our stockholders."
Mr. Kennedy, 66, has served as Vice Chairman of the Board and a member of its Executive and Finance Committee since October 2009. Mr. Kennedy served as an executive of Scientific Games from November 2010 until March 2012, including as Chief Administrative Officer from April 2011 until March 2012. Mr. Kennedy most recently served as President of MacAndrews & Forbes Holdings Inc. and as President and Chief Executive Officer of Revlon from September 2006 through May 2009. Mr. Kennedy's business career, spanning four decades, also includes several senior management and senior financial positions with The Coca-Cola Company, including Managing Director of Coca-Cola Amatil Ltd, a publicly held Australian Company.
About Scientific Games
Scientific Games Corporation is a leading developer of technology-based products and services and associated content for worldwide gaming and lottery markets. The Company's portfolio includes instant and draw-based lottery games; electronic gaming machines and game content; server-based lottery and gaming systems; sports betting technology; loyalty and rewards programs; and social, mobile and interactive content and services. For more information, please visit: www.scientificgames.com.