January 4, 2021 Sports Betting, Casino, Legal

Penn National Gaming makes change at CFO

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David Williams stepping down, Felicia Hendrix will take over March 2

Penn National Gaming, Inc., on Monday said it will be making a change at executive vice president and chief financial officer.

The Wyomissing, Pa.-based company said David Williams stepped down as of Dec. 31, 2020, but will stay on in an advisory role to help ensure a smooth transition.

Felicia Hendrix will take over on March 2, assuming she is cleared by regulators. She will report directly to Jay Snowden, Penn National’s CEO.

Hendrix is familiar with Penn National, having served as a Managing Director and Equity Research Analyst at Barclays, covering the gaming, lodging and leisure industries.

Prior to joining Barclays, Hendrix was a Managing Director at Lehman Brothers. She holds a bachelor’s degree from the University of Virginia and an M.B.A from the Darden School of Business at the University of Virginia.

“Fortunately, we have someone of Felicia’s caliber and exhaustive experience on Wall Street as an equity research analyst – who happens to have covered Penn for the last two decades – to step in as our new CFO,” Snowden said in a statement.

Williams noted his tenure was brief, and included the “excitement” of announcing a new partnership with Barstool Sports and the temporary shutdown of all the company’s operating assets in his first two months on the job.

“I am very proud of the way our company responded to the unprecedented challenges the pandemic presented, and the role I played in helping to raise more than $1 billion in new equity to be able to weather the storm,” he said, adding, “the challenges of continuing to work remotely from the West Coast and the potential strain of a relocation of my family during the ongoing pandemic has led me to this difficult decision.”

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