Two directors resign from Scientific Games board
Scientific Games has seen two of its board’s directors depart, as Viet Dinh and former President and CEO Kevin Sheehan resigned.
The US-based gaming supplier announced through an SEC filing that Dinh resigned on 15 September and Kevin Sheehan on 17 September, leaving their roles as members of the company’s board of directors.
Dinh held the role of Director at Scientific Games since June 2017, with Sheehan becoming Senior Advisor in June 2018 after a stint as President and CEO.
As President and CEO, Sheehan oversaw a successful integration of Bally and WMS, helping Scientific Games to “drive growth across all business units,” according to the company’s Chairman, Ronald Perelman.
When Scientific Games announced Sheehan’s initial departure as CEO in May, its shares were trading at over $53, and they even reached a high of $62.05 on 21 May.
However, when Sheehan finally departed as CEO on 1 June, shares began to steadily fall, and stand at $26.40 at the time of writing.
In the SEC filing, Scientific Games did not specify the reason behind either of the resignations, but what is clear is that the announcement will do little to boost investor confidence in the company.
Both Dinh and Sheehan are still board members of several other companies, including The Hertz Corporation, Dave and Buster’s and 21st Century Fox.