New CEO and president for Scientific Games

Scientific Games Corporation announced Friday that Kevin M. Sheehan, former Chief Executive Officer and President of Norwegian Cruise Line, has joined Scientific Games as the company’s new CEO and President, and will serve on the company’s board of directors.

Current Scientific Games CEO and President Gavin Isaacs will become Vice Chairman of the board of directors, with the changes becoming effective immediately, a company statement revealed.

Isaacs said in the statement:

“Today we are one company with three strong businesses – gaming, lottery and interactive. Our integration is behind us and our business strategies are delivering solid results. With our momentum building, I’m moving from an operational leadership position to a more strategic role as Vice Chairman of the Board of Directors.

“On behalf of my colleagues and the Board, we welcome our new CEO and President, Kevin Sheehan. This is the right time to grow our leadership team and have someone of Kevin’s talent, experience, and financial acumen take us to the next phase of growth and innovation.”

Sheehan joins Scientific Games from Norwegian Cruise Line, where he served as CEO and President for seven years. He led the development and expansion of the company, presiding over strong sales and EBITDA growth and the its initial public offering (IPO), one of the most successful IPO’s in 2013.

Sheehan broadened the company’s reach with new classes of ships including luxury cruising and led the company to profitably, which strategically positioned the it for continued long term growth. During his tenure, he oversaw major initiatives including vastly improving on-board service and amenities across the fleet; expanding the line’s European presence; repositioning two of the line’s Hawai’i-based ships creating a profitable business model; revitalizing top management with a combination of cruise industry and outside expertise; and using his extensive 30-year background in the business world to help Norwegian post a sharp turnaround in profitability in the midst of a tough economic climate.

During nine years with Cendant Corporation, Sheehan held various senior executive roles including serving as chairman of the board and Chief Executive Officer of Cendant Corp’s Vehicle Services Division from January 2003 to May 2005, including global responsibility for Avis Rent A Car, Budget Rent A Car, Budget Truck, PHH Vehicle Management, First Fleet and Wright Express. He also served as the Chief Financial Officer of Cendant Corporation from March 2001 to May 2003.

After leaving Cendant and prior to joining Norwegian Cruise Line, Sheehan worked at Cerberus Capital Management as a senior adviser in the assessment of multi-billion acquisition targets and Clayton, Dubilier & Rice, leading the acquisition of Hertz from Ford.

Most recently, he served as the John J. Phelan, Jr. Distinguished Professor in the Robert B. Willumstad School of Business at Adelphi University.