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Posted: Thursday, August 16th 2012 at 8:19am

Ga. Lottery president announces retirement

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ATLANTA – Georgia Lottery Corp. President and CEO Margaret R. DeFrancisco announced publicly Wednesday that she will be retiring from her full-time position as head of the Lottery.

The Georgia Lottery’s board of directors will conduct a search for DeFrancisco’s replacement. She plans to stay through the transition, and a departure date is not imminent or immediate.

"The Georgia Lottery has seen strong growth and funded the educations of hundreds of thousands of Georgians during Margaret DeFrancisco’s tenure at the corporation. She has served the citizens of this state for nearly nine years and we wish her well in her retirement," said Gov. Nathan Deal.

Since DeFrancisco joined the Georgia Lottery in December 2003, Georgia Lottery sales have grown from $2.6 billion in fiscal year 2003 to a record $3.8 billion in fiscal year 2012.

"Margaret has made the decision to retire from her role at the Georgia Lottery to enjoy some of the finer things in life, more specifically, her family and friends," said Georgia Lottery Board Chair James F. Braswell.

"We are grateful to Margaret for her years of exemplary service to the Lottery and the citizens of Georgia. The Lottery experienced record sales, resulting in record returns to HOPE and pre-K during her tenure, which is something all Georgians can celebrate.

"The board of directors is committed to making the necessary transition seamlessly and smoothly," Braswell said. "We share a common goal of continuing to move this organization forward."

Just one day before DeFrancisco announced her retirement, she reported that the Georgia Lottery Corp. surpassed $50 billion in sales since the lottery’s inception in 1993.

The Georgia Lottery recently posted record annual sales of $3.8 billion for fiscal year 2012, which ended June 30.

Associated Categories: Homepage, Business News, Local/State News

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