Slot machine maker and digital content provider Aristocrat Leisure Ltd has announced that Hector Fernandez, chief executive of Aristocrat Gaming, the group’s land-based segment, has resigned. He has been replaced by Craig Toner, until now chief financial officer and executive vice president of operations at Aristocrat Gaming.
Mr Toner “has been appointed to replace Mr Fernandez, effective immediately and subject to the receipt of necessary regulatory pre-approvals,” said on Thursday Aristocrat Leisure in a filing to the Australian Securities Exchange.
Mr Toner has been with the Aristocrat group for more than seven years in a number of business finance and operations leadership roles in both Australia and the U.S., according to the announcement.
Aristocrat Leisure said in the release that Mr Fernandez had accepted a role with a “competitor”. It did not identify the market rival.
A release on Thursday by private equity firm Apollo Global Management Inc said Mr Fernandez will become CEO of the combined enterprise formed by the acquisition of casino technology supplier Everi Holdings Inc and the gaming and digital content business of International Game Technology Plc (IGT).
Mr Fernandez is bound by a 12-month “non-compete” contractual obligation, stated Aristocrat Leisure. Mr Fernandez had joined Aristocrat Gaming as chief financial officer of the Americas Gaming business unit in 2018, before being appointed to the CEO role in 2022.
Aristocrat Leisure’s CEO and managing director, Trevor Croker, said in prepared remarks: “We thank Hector sincerely for his commitment and recognise his contribution to our business over the last six years.”
Mr Croker also said that Mr Toner “has been a key part of the global Aristocrat Gaming leadership team,” having “worked closely” with the company’s board and executive steering committee “on a number of major strategic and operational priorities”.
He added: “Craig will ensure a seamless leadership transition, maintaining a relentless customer focus, and continuing to execute our plans.”
