30+ Years of Gaming Finance. A $1B Transformation Track Record – IGT Names Adam Chibib As CFO
IGT has appointed Adam Chibib as its new Chief Financial Officer, effective 1 November 2026 and subject to regulatory approvals. He succeeds Fabio Celadon, who will remain CFO through 31 October before serving as an advisor through 31 December 2026 to support the handover. The change lands at a deliberate moment, with IGT pushing a transformation built around operating discipline and cash flow, and the profile of the incoming CFO says a good deal about where the company wants to go next.
Why the IGT CFO change matters now
The appointment is more than a routine personnel move. IGT is executing a transformation focused on operating discipline, portfolio performance and cash flow creation across its Gaming, Digital and FinTech businesses. Bringing in a finance leader at this stage is a way of setting the tone for that next chapter, and the company has been explicit that the hire is tied directly to the phase of change it is now in.
What Adam Chibib brings to the gaming operator
Chibib arrives with more than three decades of financial and operational leadership across public companies, private-equity-backed businesses and high-growth technology organisations, having contributed to six successful exits. His gaming credentials are the standout: as President and CFO of Multimedia Games, he helped double revenue, triple profitability and lift market capitalisation from roughly $47 million to more than $1 billion before its $1.2 billion acquisition. He later served as Chairman of the Board and Chair of the Audit Committee of playAGS through its 2025 acquisition. Most recently he was CFO of Raptor Technologies, acquired by Warburg Pincus in January 2026, with earlier finance roles at Self Financial, NetSpend and several technology companies.
What the appointment signals for IGT’s transformation
The operator read here is straightforward. A company chasing cash flow discipline and sharper execution has hired a CFO whose entire record is transactions, turnarounds and exits. As CEO Hector Fernandez put it, “Adam brings the public company, private equity and gaming experience we need for this stage of IGT’s transformation,” adding that “his financial discipline and operating mindset will be important as we sharpen execution and strengthen cash flow creation.” Chibib framed his own arrival around the same priorities, saying, “IGT has a strong portfolio, leading market positions and a clear opportunity to create value.” In practice, he will lead IGT’s global Finance organisation and work to align capital with the company’s highest priorities.
The transition risk worth naming for IGT
The handover itself is the honest caveat. Celadon has been with IGT and its predecessor companies for more than two decades, having become CFO of Lottomatica S.p.A. in 2002 and holding senior roles across finance, strategy, corporate development and international operations. Replacing that depth of institutional memory is not trivial, which is exactly why IGT has built in a staged transition with Celadon advising through the end of the year. The appointment also remains subject to regulatory approvals, so the 1 November date is a target rather than a certainty.
What Comes Next for IGT and the Regulated Gaming Market?
For IGT, the immediate task is a clean handover into November and a finance function retooled around tighter execution and cash generation. For the wider regulated gaming market, the more telling point is what the choice of person reveals: when an operator mid-transformation reaches for a CFO defined by exits and value creation, it is signalling that capital allocation and disciplined performance, not expansion for its own sake, are the priorities of the moment. The takeaway is less about one appointment and more about the direction it points to.
Source: IGT
