On Tuesday International Game Technology promoted its vice president of corporate finance and investor relations, Patrick W. Cavanaugh, to chief financial officer.
Mr. Cavanaugh, 48, joined the company in April 2004 but served previously as chief financial officer and treasurer of Acres Gaming Inc., a slot information systems company acquired by International Game Technology in October 2003.
“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 (International Game Technology),” said Thomas J. Matthews, the company's chairman and chief executive, in a prepared statement. “He has played an integral role in the financial management of the company since the departure of the previous C.F.O. in 2007, and I look forward to Pat's future contributions and leadership in his new role."
The company said the promotion will be effective upon receipt of any required regulatory approvals.