Wednesday, December 17, 2003
ATLANTA – The Board of Directors of the Georgia Lottery Corporation (GLC) named veteran lottery executive Margaret DeFrancisco as President of the GLC. In addition, the Board named Cathy Walls, who served as interim President of the GLC during the transition, as Executive Vice President. Governor Sonny Perdue made the announcement during a morning press conference.
Ms. DeFrancisco, who has served as the Director of the New York Lottery since 1999, becomes the second President/CEO in the GLC’s 10-year history. Under Ms. DeFrancisco’s management the New York Lottery led the nation in sales and profits in each of the last three years, making it the largest lottery in North America. She is credited with increasing sales from $3.62 billion in fiscal year 2000 to more than $5.41 billion in fiscal year 2003 – an increase of approximately 50%.
According to GLC Board Chair Barbara Dooley, “Margaret DeFrancisco has the experience and leadership skills necessary to build on the lottery’s past achievements and lead it to its next level of success. We are excited for the future of the GLC under her stewardship.”
Ms. DeFrancisco is scheduled to assume the responsibilities of President in mid-January. Her base salary will be $225,000. Additionally, Ms. DeFrancisco will be eligible to earn incentives based on the performance of the Corporation as determined by the GLC’s Board of Directors.
The national CEO selection process began in September of 2003. On December 2nd the field of candidates was narrowed to an accomplished group of three finalists, including Ms. DeFrancisco. On Wednesday afternoon (12/17) the GLC Board of Directors voted unanimously to offer her the position and she accepted. David Garrett, who served as Chair of the GLC Board Search Committee, said the process of selecting a new president “showed the esteem that the GLC holds in the industry. We had the strongest field of candidates imaginable and I could not be more pleased with the newly appointed leadership being announced this morning.”
“I am excited and grateful for the opportunity to come to Georgia,” said DeFrancisco. She added, “I am looking forward to working with the Board, the Governor and General Assembly, our retail partners and the accomplished staff at the GLC. Together, we will build on the successes of the past to enhance funding for education in Georgia.”
Since its first year, the Georgia Lottery Corporation has returned over $6 billion to the state of Georgia for education. All Georgia Lottery profits go to pay for specific educational programs. These include Georgia’s HOPE scholarship program; a statewide, voluntary pre-kindergarten program for four-year-olds; and a wide range of technological and capital upgrades for the state’s schools, technical institutes, colleges, universities and public libraries.
For more information, please visit the Media Center on the GLC Web site at:
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Georgia Lottery Corporation
Media Relations Department
Media Relations Manager
media [at] galottery [dot] org