Steve Morro, a long-serving non-executive director of Australia-based slot machine maker Aristocrat Leisure Ltd, is exiting the board. Mr Morro is retiring at the company’s upcoming annual general meeting, to take place on February 20 at Aristocrat’s head office in New South Wales.
He will remain linked to the group as a consultant to management.
“After more than a decade of service, Mr Morro has confirmed his intention to retire as a director of Aristocrat,” company chairman Neil Chatfield said in a notice to shareholders filed to the Australian Securities Exchange on Wednesday.
Mr Chatfield added: “Steve has made an outstanding contribution to both the board and the business, including through its turnaround years and subsequent growth. Steve has brought deep U.S. market- and global gaming industry-expertise to the board’s deliberations, which we value greatly.”
Mr Morro was first nominated to Aristocrat’s board in 2009, according to company documents. His gaming industry experience also includes roles as chief operating officer of casino equipment brand International Gaming Technology (IGT) and president of IGT’s gaming division.
Aristocrat’s chairman said that, “in view of the importance of the U.S. market in Aristocrat’s business”, and in light of Mr Morro’s intended retirement, non-executive director Pat Ramsey would assume the role of “USA lead director”. In addition, the Aristocrat board would focus on recruiting a further U.S.-based director.
As part of what Mr Chatfield called “an orderly renewal process” of Aristocrat’s board, shareholders will be asked on February 20 to approve the appointment of Philippe Etienne to the company’s board as a non-executive director. He was nominated for the post in October.
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