IGT chief financial officer to leave company

PROVIDENCE – International Game Technology PLC Chief Financial Officer and Executive Vice President Alberto Fornaro has resigned from the company, IGT announced on Monday.

The London-headquartered company, which has North American headquarters in Rhode Island, has the Rhode Island lottery contract in its portfolio and is seeking to renew it for another 20 years.

Fornaro is expected to stay with the company until Jan. 31. IGT said he is departing to pursue other professional opportunities.

“I would like to thank Alberto, both personally and on behalf of the IGT board of directors, for his leadership and outstanding contribution during the last eight years as CFO of first GTECH and later IGT,” said Marco Sala, CEO of IGT in a statement. “Alberto played a significant role in improving our financial and operational performance, including helping to secure large, strategically important contracts for the next several years. We look forward to an orderly and seamless transition of his responsibilities, and wish him well.” 

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The company’s board of directors has named Timothy Rishton as interim chief financial officer while it conducts a search for Fornaro’s successor.

Rishton, a University of Rhode Island grad, is currently chief accounting officer and senior vice president at the company, where he has worked since 1995. He previously worked for Acushnet Co. and Earnst & Young.