Hector Fernandez has stepped down as CEO of Aristocrat Gaming and will take over as the head of the new entity resulting from the merger between Everi and IGT’s Gaming & Digital division. [Image: Shutterstock.com]

Hector Fernandez is no longer the CEO of Aristocrat Gaming after he stepped down suddenly to move to a competitor. He started with the gambling technology and content company in 2018 as the CFO of US operations.

his 12-month non-compete clause ends in Q4 2025

Apollo Global Management revealed that Fernandez will take over the newly formed entity when the $6.3bn merger between IGT’s Gaming & Digital Business and Everi concludes and his 12-month non-compete clause ends in Q4 2025.

Apollo Partner Daniel Cohen remarked on Fernandez’s “impressive track record of successfully scaling operations and strengthening customer relationships.”

According to the stock exchange announcement on Thursday, Current Aristocrat Gaming CFO Craig Toner will take over Fernandez’s role immediately. Toner has worked in the business for more than seven years.

Aristocrat Leisure Limited is the gaming subsidiary’s parent company, and the group’s overall CEO Trevor Croker believes that Toner will “ensure a seamless leadership transition, maintaining a relentless customer focus, and continuing to execute our plans.”