Aristocrat May Add Directors

Aristocrat Leisure Ltd. has announced that it will consider expanding its board of directors and increasing the funds available for non-executive director fees.

Aristocrat May Add Directors

Australian slot supplier Aristocrat Leisure Limited announced in its annual report that it will use the next annual general meeting to vote on expanding its board with additional non-executive directors.

According to the annual report, quoted in GGR Asia, the company will vote on increasing the money available for non-executive director fees, to create “sufficient flexibility to attract and appoint global directors (including up to two new non-executive directors for the board), and facilitate orderly board succession planning.” Aristocrat currently has six non-executive directors.

The report says the board will seek approval to boost the non-executive director fee poll from AUD3.2 million to AUD4 million (US2.9 million) per year.

“Aristocrat’s strong growth across core and adjacent markets since the 2018 AGM has resulted in the increased workload and responsibilities of the board and its committees,” stated the report.

It added that the company’s board expected its volume of work “to continue to increase over the coming years as Aristocrat accelerates and executes on its growth strategy through acquisitions,” such as its AUD3.9-billion bid for London-listed online gaming giant Playtech PLC.