Penn National Gaming Inc (Penn) confirmed the appointment of William ‘BJ’ Fair. Fair will assume his new role at the US gambling operator in January 2017.
Penn governance confirmed Fair’s promotion from Chief Development Officer, a role he’s served since 2014. He will replace current CFO Saul V. Reibstein who announced his retirement last week. Fair will keep his title of Executive Vice President, reporting directly to CEO Timothy J Wilmott.
Informing investors, Penn detailed that Reibstein would advise Fair during a ‘transitional period’ to ensure a ‘seamless transfer of CFO responsibilities’.
Fair’responsibility as CFO will oversee all corporate growth and development initiatives and the Company’s financial and 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.
CEO, Timothy J Wilmott commented on the appointment: “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.”