Sept. 30, 2011
/PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) today announced that
Grier C. Raclin
will join the Company as Senior Vice President and General Counsel, effective
October 1, 2011
. Mr. Raclin will succeed
Ira H. Raphaelson
, Vice President, General Counsel and Secretary of the Company, who is leaving the Company as previously announced.
Mr. Raclin most recently served as Of Counsel at Thompson Coburn LLP, where he represented clients in the negotiation of commercial and financial transactions. Previously, he served as Executive Vice President, General Counsel and later Chief Administrative Officer of Charter Communications, Inc., one of the nation's largest cable television operators. Prior to joining Charter in 2005, Mr. Raclin was Executive Vice President and Chief Legal Officer of Savvis, Inc., an international provider of IT outsourcing, virtual private networks, managed hosting and internet services to commercial enterprises worldwide. Before joining Savvis in 2003, Mr. Raclin was Executive Vice President, Chief Administrative Officer and General Counsel of Global TeleSystems, Inc., a
-based provider of international voice, mobile and data services to businesses throughout Eastern and
Prior to moving in-house at Global TeleSystems in 1997, Mr. Raclin was in private practice for 17 years, most recently as Vice-Chairman and a Managing Partner of
, Carton & Douglas in
. Mr. Raclin received his Bachelor of Arts in Philosophy cum laude from
and his Juris Doctorate from
"We are pleased to add such a seasoned professional to our executive team," said
, Chairman and Chief Executive Officer of Scientific Games. "Grier is known as an effective and decisive leader and he has successfully managed several complex domestic and international transactions. I'm confident that Grier's extraordinary legal experiences in large multinational publicly traded corporations will provide strong leadership as we move forward with our core strategies."
Upon joining the Company, Mr. Raclin will receive 50,000 restricted units (RSUs) and a stock option to purchase 150,000 shares of the Company's common stock (with an exercise price equal to the market value of the Company's stock on the date of grant, and a ten-year term), which awards are scheduled to vest in one-fourth increments on each of the first four anniversaries of the date of the grant. The RSUs and stock option were approved as employment inducement grants pursuant to Nasdaq Marketplace Rule 5635(c)(4).