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GTECH CORPORATION PROMOTES FABIO CELADON TO SENIOR VICE PRESIDENT OF STRATEGIC PLANNING
PROVIDENCE, RI – (March 20, 2008) – GTECH Corporation, a wholly-owned subsidiary of Lottomatica S.p.A., announced that Fabio Celadon has been named Senior Vice President, Strategic Planning, for GTECH Corporation. Reporting to GTECH President and Chief Executive Officer, Jaymin B. Patel, Celadon will lead a new Strategic Planning organization that will take over the Corporate Development and Strategic Planning function for GTECH. Celadon will be responsible for four primary areas – strategic planning, mergers and acquisitions, asset optimization, and business evaluation.
“Fabio will head up a group that will be responsible for developing our overall corporate growth strategy, identifying and evaluating strategic initiatives, performing market and competitive analyses, managing and executing mergers and acquisitions, and evaluating and pricing business opportunities in order to drive economic value creation for the Company,” said Mr. Patel. “Fabio's new position will have the added responsibility of asset optimization. He and his group will define key value drivers within our businesses and then oversee operational finance and overall performance of existing operations.”
Celadon joined GTECH in 2006 as Vice President New Market Development. In this role, he has led the Company's strategic initiatives in several areas. Prior to joining GTECH, Celadon was Finance Director of Lottomatica from 2004 - 2006, after having served as Chief Financial Officer from 2002 - 2004. Prior to this, he was a partner with Atlantis Capital Partners, a private equity start-up, worked for Morgan Stanley in London in the mergers and acquisitions department, and served as Finance Director of Pavo, a private Italian company. Celadon holds a Law Degree from the LUISS University in Rome and an MBA from Columbia Business School in New York .
GTECH is a leading gaming technology and services company, providing innovative technology, creative content, and superior service delivery. Lottomatica is one of the world's largest commercial lottery operators and a market leader in the Italian gaming industry. GTECH and Lottomatica together create a fully integrated lottery operator and gaming technology solutions provider – a combined company with worldwide scale, considerable financial strength, and industry-leading customer solutions. Lottomatica is majority owned by De Agostini, which belongs to a century-old publishing, media, and financial services group. Lottomatica is publicly traded on the Italian Stock Exchange (LTO), and in 2007, had more than €1.7 billion in revenues and 5,900 employees in over 45 countries when combined with GTECH.
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