Cavanaugh named CFO of IGT
International Game Technology announced the promotion of Patrick W. Cavanaugh to the position of executive vice president and chief financial officer. The promotion will be effective upon receipt of any required regulatory approvals. Cavanaugh was most recently IGT's vice president of corporate finance and investor relations.
"Pat brings to the table a unique combination of extensive gaming industry experience as a financial executive, familiarity with Wall Street, and intimate knowledge of IGT," said TJ Matthews, IGT Chairman and CEO. "He has played an integral role in the financial management of the Company since the departure of the previous CFO in 2007, and I look forward to Pat's future contributions and leadership in his new role."
Cavanaugh, 48, joined IGT in April 2004. Prior to joining the Company, he was Chief Financial Officer and Treasurer of Acres Gaming, Incorporated, a slot information systems company acquired by IGT in October 2003. Cavanaugh also previously served as Chief Financial Officer and Treasurer for Oasis Technologies, Inc. and Casino Data Systems, both of which were focused on supplying the gaming industry with innovative systems solutions.
Cavanaugh is a member of the American Institute of Certified Public Accountants and the Nevada Society of Certified Public Accountants. He began his career with the international accounting firm of KPMG where he rose to the position of Senior Audit Manager. He holds a B.S. in Business Administration with an emphasis in Accounting from Montana State University.
IGT also named Richard J. (Rich) Schneider as executive vice president of product strategy for the company.
"In his new role, Rich will integrate IGT systems and games into one organization, a change that is reflective of our realization of the need to converge these two once separate worlds into one unified product offering," said TJ Matthews, IGT chairman and CEO. "Rich's past experience makes him uniquely qualified to bring these two areas together to deliver exciting value-added network, game and customer service applications to our customers."
Schneider was IGT's executive vice president of server-based gaming since 2006 and president of IGT Systems since 2004. He joined IGT in 2003, when IGT acquired Acres Gaming, Inc. He served in various management roles with Acres Gaming since 1997 including president and COO. His prior work experiences include service as vice president for CDS and director of engineering for United Coin Machine.
He holds a bachelor's degree in engineering from the University of Nevada, Las Vegas.