Scientific Games Corporation announced that Michael Eklund will become its chief financial officer on June 1. Eklund spent more than 20 years at Dell Technologies in both financial and operational roles, including leading the value creation and integration function for the $67 billion Dell-EMC combination and serving as chief financial officer of Dell's $40 billion-plus Client Solutions Business Unit and Global Operations organization. Most recently, he has served as CFO of IRI, a global leader in innovative data and analytic solutions and services for consumer, retail and media companies. Michael Quartieri will remain full time with the company until June 30 and will serve in a consulting role through December 31.
"Mike Quartieri has done an outstanding job over the last four years building a world class financial team, revitalizing our financial management and refinancing our debt," said Scientific Games CEO Barry Cottle. "The board of directors and I are very grateful for Mike's constant dedication to the success of the company and its people. Mike now wants to move to a new industry with new challenges after many years in the gaming business. He wanted to leave earlier this year but, after the COVID-19 pandemic hit, Mike agreed to stay to help the company with that crisis. Mike has led our efforts to reduce our cash burn while preserving key operations, developing plans to manage through the pandemic, preparing to be an even stronger competitor as we emerge from the crisis and working with our lenders to get our Credit Agreement amended to provide covenant relief. With those key steps taken, we are now ready to proceed with the transition to a new CFO.
"We are very fortunate to have Mike Eklund join us starting on June 1. He has a wealth of experience in financial and operational leadership and a passion for aligning all aspects of a company's finance and operations with its core business model that positions him well to build on Mike Quartieri's legacy."