Scientific Games Corporation Announces Executive and Board Changes
September 28, 2020 at 06:15 am EDT
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Scientific Games Corporation ('Scientific Games' or the 'Company') announced that Tim Throsby will join the Company's Board of Directors as a new independent director effective October 1, 2020. The Scientific Games Board will comprise nine directors, the majority of whom are independent. Mr. Throsby brings decades of executive financial leadership and business growth and development experience to Scientific Games. He most recently served as CEO of Barclays Bank Plc and President of Barclays International where he designed and executed a comprehensive restructuring to help transform the performance and culture of the organization. Mr. Throsby's appointment follows Scientific Games' disclosure that the Company would appoint an additional independent non-executive director in connection with its September 14, 2020 announcement that a number of long-term institutional investors, including highly credentialed gaming industry investor Caledonia, reached agreement to acquire a 34.9% stake in the Company. As part of the transaction, the Company is implementing certain governance enhancements and refreshment to its board. Mr. Throsby's appointment follows the appointment of Executive Chair Jamie Odell and Executive Vice Chair Toni Korsanos.
Light & Wonder, Inc. is a cross-platform global games company with a focus on content and digital markets. The Company's segments include Gaming, SciPlay and iGaming. The Gaming segment designs, develops, manufactures, markets and distributes a comprehensive portfolio of gaming content, products and services. The Company provides its gaming portfolio of products and services to commercial casinos, Native American casinos, wide-area gaming operators such as licensed betting offices (LBOs), arcade and bingo operators in the United Kingdom and continental Europe, and government agencies and their affiliated operators. The SciPlay segment is a developer and publisher of digital games on mobile and Web platforms. The SciPlay segment operates primarily in the social gaming market and hyper-casual space. The iGaming segment provides a comprehensive suite of digital gaming content, distribution platforms, player account management systems, as well as various other iGaming content and services.