Wednesday November 20 ,2013 : SCIENTIFIC GAMES APPOINT PRESIDENT AND CEO
Reasons for sudden departure of outgoing executive undisclosed
Scientific Games Corporation has separated the roles of Chairman and chief executive officer held by A. Lorne Weil with the appointment of David L. Kennedy (66) as Chief Executive Officer with immediate effect and Ronald O. Perelman as Chairman.
Without disclosing the reasons for his departure, Weil steps down despite the company saying in September he would retain his role following the merger of Scientific Games and WMS Industries .
Kennedy has held several board and executive positions within Scientific Games, including vice chairman since October 2009 and chief administrative officer from 2011 to 2012. He also serves as vice chairman of Revlon Inc. where he was CEO from September 2006 through May 2009.
"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," said Perelman. "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."