Scientific Games Corporation has unveiled former Barclays Bank CEO Tim Throsby as a new independent director as it continues a comprehensive overhaul of its board of directors.
Throsby represents the third new appointment in as many weeks following the sale earlier this month of a 34.9% stake in the company by long-time Chairman Ron Perelman to a group of institutional investors led by Australian fund manager Caledonia (Private) Investments.
Former Aristocrat CEO Jamie Odell was recently named as Scientific Games’ new Executive Chairman and former Aristocrat CFO as new Executive Vice Chairman following the sale of Perelman’s stake.
Throsby, who will join the board from this Thursday 1 October 2020, most recently served as CEO of Barclays Bank Plc and President of Barclays International where Scientific Games said he designed and executed a comprehensive restructuring to help transform the performance and culture of the organization. Under his leadership, the company added, Barclays Bank doubled its return on tangible equity (ROTE) over a US$20 billion top line portfolio of businesses.
“We are delighted to have a financial leader of Tim’s caliber join our Board,” said Odell. “Tim brings extraordinary financial and operational leadership experience. I’m confident Scientific Games will greatly benefit from his expertise as we continue to execute on our strategy to drive growth across our business and unlock value for our stakeholders.
“With Tim’s appointment and our recent governance enhancements, Scientific Games is moving forward from a position of strength with a refreshed, independent Board.
“We are focused on optimizing our portfolio, deleveraging our business, and capitalizing on the dynamic growth across our industry as key markets continue to reopen.”
Scientific Games said its new look board will comprise a total of nine directors of which the majority will be independent.
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