Scientific Video games names new CFO as Quartieri steps down

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Scientific Video games Corp. has appointed Mike Eklund to function its chief monetary officer efficient June 1.

Eklund assumes the position from Michael Quartieri, who has served as CFO since 2016 and can step down on the finish of June to pursue alternatives exterior the gaming business, though he’ll function a advisor to the corporate till the tip of the 12 months.

Eklund joins Scientific Video games from market analysis agency IRI, the place he served as CFO since July 2019, having beforehand spent greater than 20 years at Dell Applied sciences in monetary and operational roles.

“Mike Quartieri has finished an impressive job during the last 4 years constructing a world class monetary workforce, revitalizing our monetary administration and refinancing our debt.  The Board of Administrators and I are very grateful for Mike’s fixed dedication to the success of the Firm and its individuals,” mentioned Barry Cottle, chief govt of Scientific Video games.

“Mike now desires to maneuver to a brand new business with new challenges after a few years within the gaming enterprise.  He wished to go away earlier this 12 months however, after the COVID-19 pandemic hit, Mike agreed to remain to assist the Firm with that disaster.  Mike has led our efforts to cut back our money burn whereas preserving key operations, creating plans to handle via the pandemic, making ready to be an excellent stronger competitor as we emerge from the disaster and dealing with our lenders to get our Credit score Settlement amended to supply covenant aid.   With these key steps taken, we are actually able to proceed with the transition to a brand new CFO.”

“We’re very lucky to have Mike Eklund be a part of us beginning on June 1,” Cottle added. “He has a wealth of expertise in monetary and operational management and a ardour for aligning all points of an organization’s finance and operations with its core enterprise mannequin that positions him properly to construct on Mike Quartieri’s legacy.”

Shares in Scientific Video games Corp. (NASDAQ:SGMS) closed 0.55 per cent decrease at $14.37 per share in New York Thursday, previous to the announcement.

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