IGT Hints at Board Changes as Massimiliano Chiara Steps up as New CFO

Staff Writer Industry News, IGT 145

International Game Technology (IGT) has named Massimiliano Chiara as the new Executive Vice President and CFO. Chiara will take up his new position on April 6th.

But that was not all – in the announcement, the company hinted at massive changes inside its board of directors.

New Hopes

Before becoming the new CFO at IGT, Chiara worked at CNH Industrial N.V. There he occupied the positions of Chief Financial Officer and Chief Sustainability Officer. Before CNH Industrial, Chiara managed financial and management roles at Fiat Chrysler. His CV includes consultant positions at PricewaterhouseCoopers Advisory.

His appointment was well received in the company H.Q. Board members welcomed Chiara as a breath of fresh air that will surely boost innovation and creativity. Marco Sala, CEO of IGT, said that Chiara’s experience and expertise would be a perfect asset to the company. The new CFO will also occupy a seat in the company’s board of directors.

Time to Say Goodbye

The news of the new appointment came together with the announcement of retirement. Namely, the long-term director of IGT Paget Alves is stepping down from his function. He announced his retirement to the board and said that he would not participate in the upcoming general election meeting. According to him, he has been there for over a decade, and it is time to move on. He served on both the Audit Committee and Compensation Committee. The company thanked him for his service and said he was instrumental in supporting the software company through tough years.

The new independent director of the company is Beatrice H. Bassey. She assumed her position on March 20th. Before coming to IGT, Bassey worked in the banking sector in Africa. Lorenzo Pellicioli, Chairman of IGT, welcomed Bassey by saying:

“Beatrice’s extensive experience in the highly dynamic and regulated banking sector, in addition to her extensive international exposure, are valuable perspectives to add to IGT’s board.”

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