By Andrew Starke
Aristocrat Leisure has unveiled a new management team with CEO Jamie Odell, who was appointed in February, surprising the market with some of his decisions.
There is no place for Aristocrat’s chief financial officer Simon Kelly in the new executive structure and he will be replaced by his deputy, Toni Korsanos, from August 1.
Odell, who ran Foster’s Group’s Australian beer and wine business before departing last year, kept faith in his liquor industry roots by appointing Trevor Croker managing director for Australia and New Zealand.
Croker has had stints as sales director at both Carlton & United Breweries and Foster’s Australia over the past two years.
Odell said finalising the executive team was a significant step towards growing the business and delivering shareholder value.
“The team I have announced significantly increases our bench strength in the critical areas of technology, strategic project management and marketing,” he said.
Aside from Kelly’s departure, Aristocrat’s executive general manager for Europe, the Middle East and Africa Roy McLoughlin will leave the company on October 31.
The company has struggled over the past two years, losing market share to larger US rivals and being forced to announce a string of profit downgrades.
Aristocrat Leisure’s share price was $3.78 at 11am today (Jul 15), up from $3.49 seven days ago.