US Gambling operator Penn National Gaming Inc (Penn) has confirmed the appointment of William ‘BJ’ Fair as new Chief Financial Officer (CFO) effective January 2017.
Penn governance confirmed the promotion of Fair who has served the operator as Chief Development Officer since 2014, he will replace former group CFO Saul V. Reibstein, who announced his retirement from the company last week.
Taking on CFO responsibilities Fair will maintain his title of Executive Vice President, reporting directly to CEO Timothy J Wilmott.
Updating investors, Penn governance detailed that outgoing Reibstein would advise Fair during a ‘transitional period’ to ensure a ‘seamless transfer of CFO responsibilities’.
In his role as CFO, Fair will oversee all corporate growth and development initiatives and the Company’s financial & treasury functions, including financial and periodic reporting to the Securities and Exchange Commission, bank relationships, conducting internal and industry analysis to support the Company’s goals for growth, investor relations, and transactional activities.
Timothy J Wilmott commented on the appointment of ‘BJ’ Fair;
“BJ brings a solid record of corporate growth, strategic development and financial experience to his new role, and he’ll be working alongside a deep and experienced team of operations, marketing, project development and legal professionals to help him execute on our strategic growth initiatives and our near-term priorities to de-lever and strengthen our balance sheet.”
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