Caesars appoints new chief financial officer

LAS VEGAS -- Caesars Entertainment Inc. went outside the gaming industry and named Donald Colvin as chief financial officer on Thursday.

Colvin served in a similar position with ON Semiconductor Corp. from April 2003 until October. Before joining ON Semiconductor, he held a number of financial leadership and CFO positions with Atmel Corporation, European Silicon Structures and several financial roles at Motorola Inc.

Colvin replaces Jonathan Halkyard, who left the casino operator in the summer to become CFO at NV Energy.

"Donald brings to Caesars more than two decades of financial leadership experience and a track record in driving financial strategy, managing complex balance sheets, executing and integrating acquisitions, and increasing shareholder value," Caesars Chairman Gary Loveman said in a statement. "His experience will be a valuable addition to Caesars Entertainment, as we execute our strategy to expand our distribution network and further improve our capital structure."

Colvin is a director and chairman of the audit committee of Isola Group and was previously a director of Applied Micro Circuits Corp. He earned a bachelor's degree in economics and an MBA from the University of Strathclyde in Scotland.

"Caesars has a strong operating business and ambitious growth plans," Colvin said. "I look forward to working with Gary, the senior management team and my new colleagues to drive the company's future growth and success."