The Five Cs Hector Fernandez’s Blueprint for IGT’s Next Phase
In his first in-depth interview as Incoming CEO, Hector Fernandez sets out the thinking behind IGT’s “Five Cs” strategy, from cultural reset and capability building to commercial discipline and sustainable cash flow.
Newly appointed Incoming CEO Hector Fernandez believes IGT’s next phase will be defined not by quarterly targets, but by culture, capability and customer outcomes. In an exclusive interview with G3, he outlines a clear five-pillar strategy, explains why healthy competition matters, and sets out how IGT’s breadth across gaming, systems and fintech can unlock long-term value for operators and players alike.
Hector, when we last spoke several years ago, you were very vocal about culture and people. Has that thinking carried through into your approach as Incoming CEO at IGT?
Very much so. I’ve never believed you have to fit a particular mould to be an effective CEO. I didn’t grow up with privilege, and that perspective stays with you. I believe businesses succeed when they build a culture of meritocracy, openness and respect, where people can challenge ideas constructively and where leadership is visible and accessible. Tat’s something I intend to carry forward at IGT.
You’ve spoken internally about accepting where IGT is today before defining where it needs to go. Why is that so important?
You can’t fix what you won’t acknowledge. One of the first things I did was lay out the facts, performance metrics, market perception and customer feedback. Te conclusion was clear: we’re not number one today. But we have all the right ingredients under one roof. We just need to be honest about where we’re strong and where we need to improve, particularly in the land-based gaming business. Acceptance is the starting point of any real transformation.
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You’ve distilled your strategy into what you call the “Five Cs”. Can you walk us through them?
Te first is culture. Without the right culture, nothing else works. Te second is capability - ensuring the right people are in the right roles, with the right structure, and attracting talent both from inside and outside the industry. Te third is content. Tat’s at the heart of what we do, but it depends on the first two being right.
Fourth is commercialisation - not just being customer-centric, but truly understanding customer needs and having the flexibility to structure solutions that support their business. Finally, cash flow creation. Efficiency matters. Generating cash flow allows us to reinvest in innovation and growth. Tere’s no free capital; we have to fund our own future.
Is there a sequence to those priorities, or do they all move forward together?
You have to work on all of them at once, but culture always comes first. We’ve created an internal scorecard against the Five Cs so we can measure progress honestly. Content, for example, has long lead times, but we’re already seeing improvement. Recent performance data shows stronger results in new game launches, and that’s a credit to the teams refocusing on what matters.
Wheel of Fortune remains one of the most recognisable brands in gaming. How central is it to your thinking?
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