IGT names Adam Chibib as new CFO to lead its financial transformation

International Game Technology PLC (IGT) announced the appointment of Adam Chibib as the new Chief Financial Officer (CFO), replacing Fabio Celadon effective November 1, pending regulatory approvals. This decision marks a key step in the financial and operational transformation plan of the global gaming provider, at a time where consolidation following the merger with Everi and the sale of its lottery division is reconfiguring its executive structure.

Transition in IGT's Financial Leadership

IGT confirmed that Chibib will officially take over the CFO role on November 1. Until then, Fabio Celadon will remain actively in the financial position until October 31, and will serve as an advisor until the end of 2026 to ensure an organized transition. This responds to a continuity of leadership strategy at a time of operational adjustment within the company.

Fabio Celadon, whose relationship with IGT dates back to 2002 — when the company acquired the Italian operator Lottomatica — accumulated over two decades of experience within the organization. He held key positions, including Senior Vice President for the gaming portfolio and operations leader in the China region. Following IGT's merger with Everi and its acquisition by Apollo in July 2025, Celadon assumed the role of CFO.

“I thank Fabio for more than two decades of leadership and commitment to IGT. He has steered the company through significant transformations and has been a trusted partner throughout the business,” stated Hector Fernandez, CEO of IGT.

The Profile of Adam Chibib and His Challenges as CFO

Adam Chibib joins IGT after serving as CFO of Raptor Technologies for 17 months, a company specializing in school security software. From 2018 to 2025, he held the position of president at American Gaming Systems (AGS), a provider in the slots sector. Previously, he spent nearly five years as CFO at Self Financial, a firm developing credit-building tools.

This background connects Chibib with the technology and gaming sectors, two strategic areas for IGT. Chibib himself emphasized his focus on strengthening financial discipline and aligning capital with the company’s "highest priorities," closely collaborating with CEO Hector Fernandez and the rest of the leadership team.

“I look forward to working with Hector, the corporate leadership, and the financial team to reinforce financial and operational discipline, focus capital on our priorities, and build a solid foundation for growth,” stated Adam Chibib in an official statement.

Financial Transformation and Objectives of IGT

Chibib’s appointment comes after a series of moves aimed at modernizing and enhancing IGT's structure. In March, the Las Vegas Review-Journal reported that IGT was reducing its workforce by 10% to "streamline operations." These cutbacks are part of a continuous optimization process following the acquisition by Apollo and the spin-off of its lottery business, which was rebranded as Brightstar Lottery and is now led by Vince Sandusky.

Hector Fernandez, a former executive at Aristocrat, assumed overall leadership of IGT in December 2024. A year later, he consolidated his position amid a portfolio redefinition process and strategic shifts.

IGT has outlined the priorities for transformation during this stage:

• Align the financial strategy with long-term corporate goals.
• Optimize capital allocation and improve cash flows.
• Strengthen operational discipline to compete in a changing regulatory and technological environment.

The Current Structure Following the Sale of the Lottery Business

The lottery division — not included in the acquisition deal by Apollo — now operates under the Brightstar Lottery brand under the direction of Vince Sandusky. This reorganization, combined with workforce reductions and the entry of a CFO with experience in operators and technology, is viewed as a significant adjustment in IGT's internal structure and corporate strategy.

Currently, the company seeks to strengthen execution and cash generation under the combined leadership of Hector Fernandez and Adam Chibib, adapting to the changing conditions of the sector and its own sustainable growth goals.

Outlook for Providers and the B2B Sector

Chibib's focus on financial and operational discipline is being closely monitored by platform providers, investors, and operators, who are attentive to how IGT implements this new phase post-merger. Additionally, the management of executive talent for such transformation processes has been supported by specialized firms like Arnold Ash.

Those interested in the development of global gaming providers and post-merger integration trends can find more analysis in the news section and industry articles in B2B.