PENN Entertainment adds three independent directors to board

PENN Entertainment Inc. (NASDAQ: PENN) appointed three new independent directors to its board, effective immediately, according to a company statement. The gaming company named Heather Ace, Jeffrey Fox and Fabio Schiavolin to the positions.

The appointments coincide with a cooperation agreement between PENN and HG Vora Capital Management LLC and its affiliates. The agreement includes voting, standstill and other provisions that remain in effect through the 2027 Annual Meeting of Shareholders. The company will file the cooperation agreement with the Securities and Exchange Commission on Form 8-K.

Ace serves as Executive Vice President and Chief Human Resources Officer at Qualcomm Incorporated. She previously held similar roles at Dexcom, Orexigen Therapeutics, Volcano Corporation and Life Technologies. She also worked as a partner at Gray Cary Ware & Freidenrich, practicing litigation and employment law. Ace holds a bachelor's degree from the University of California, Santa Barbara and a law degree from Santa Clara School of Law.

Fox is CEO and Founder of Circumference Group. He previously served as President and CEO of Endurance International Group Holdings Inc. and Convergys Corporation. Fox also held multiple positions at Alltel Corporation and began his career in investment banking at Merrill Lynch and Stephens Inc. He holds a bachelor's degree in Economics from Duke University.

Schiavolin is the former CEO of Snaitech S.p.A., described as Italy's largest public gaming and entertainment company. He participated in the company's merger with Playtech plc, a gaming technology company operating in more than 17 countries. Schiavolin founded Cogetech, which merged with Snai in 2015 to form Snaitech. He began his career at Cirsa, a Spanish casino and gambling machine operator, and holds an MBA from Università di Bologna.

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