Thursday, 4:30 PM
Treasurer names new state lottery director
By Raja Mishra, Globe Staff
Mark J. Cavanagh today was named the new director of the Massachusetts State Lottery, which sold $4.4 billion in tickets last fiscal year and generated $951 million in revenue for cities and towns.
Cavanagh will officially replace current director Joseph C. Sullivan on Jan. 15, announced State Treasurer Timothy P. Cahill, who oversees the lottery.
Sullivan is leaving to explore other professional options in the public and private sector, and has not yet announced his future plans, according to a treasurer's office spokeswoman.
As director, Cavanagh will run the day-to-day operations of the lottery, while Cahill and a five-member panel of appointed commissioners make overall policy decisions. Lottery revenues are distributed to the Commonwealth's 351 cities and towns based on population and with no strings attached.
"It's an exciting and challenging opportunity and I look forward to building on the successes of Treasurer Cahill and Joe Sullivan," said Cavanagh.
He has served as Cahill's deputy since 2003, running the state's Abandoned Property Division, which collected $883 million over the past four years and paid out claims totaling about $158 million.
Cavanagh, who studied at Bentley College and Boston College, served in the same job during part of Robert Crane's tenure as treasurer. Before joining Cahill's office, Cavanagh held executive positions at Affiliated Computer Services and State Street Bank.
Cahill yesterday said he was "grateful" for Sullivan's work, saying of Cavanagh: "I have worked with Mark for four years and am pleased to promote him to this position."
