Jamie Odell Steps Down as CEO of Aristocrat Leisure
Australian poker machine manufacturer, Aristocrat Leisure, has announced that Jamie Odell will step down as chief executive and managing director of the company, effective from February 28, 2017.
The position will be filled, subject to regulatory pre-approvals, by CEO-elect, Trevor Croker, who currently holds the position of vice president for global products at Aristocrat. Mr Croker will relocate to the US to take up the position as, according to the company, “North America generates Aristocrat’s largest revenues and offers the business its most significant strategic opportunities.”
Odell has been leading Aristocrat since 2009 and has seen some significant changes, including the acquisition of Video Gaming Technologies in 2014 and the company’s subsequent focus on their North American business.
Odell’s resignation comes at a time when Aristocrat is reporting impressive financial results with a 66 percent increase in profits for the first half of the 2016 financial year. The company is also currently embroiled in a court case in Victoria over the fairness of its poker machines.
“The board respects Jamie’s decision to depart at the end of February 2017 after a remarkably successful eight-year tenure that has transformed the business,” assured Ian Blackburn, chairman of the board of Aristocrat.
Mr Odell responded to the announcement saying: “I am proud of everything our team has achieved at Aristocrat over the past eight years. We have established sustained momentum in our core business and made significant progress in driving recurring revenues, exiting distracting businesses, executing accretive mergers and acquisitions and overhauling our organisational culture and structures.”
The company has assured its shareholders that Mr Odell will remain at the helm and remain fully focused on leading the company for the next few months until Mr Croker takes over, in order to ensure “a seamless transition.”
March 27, 2017