Scientific Games has announced the hiring of Tim Throsby as the company’s new independent director, joining the firm’s board of directors as part of the process.
Throsby’s appointment will officially commence on October 1 with the signing taking Scientific Games’ board to nine directors, the majority of which are now independent.
Scientific Games’ new board of director member has accumulated decades of financial leadership, business growth, and development experience during his time at Barclays Bank Plc, JP Morgan, and Citadel Asia.
Throsby commented: “Scientific Games has a strong team and compelling opportunity to capture substantial market opportunity in the expanding digital gaming and sports betting ecosystem.
“I look forward to working closely with Jamie Odell, CEO Barry Cottle, the board and management team during this important time in the company’s evolution and supporting its efforts to deliver sustainable growth and shareholder value.”
As the CEO of Barclays Bank Plc and President of Barclays International, Throsby designed and executed a comprehensive restructuring which helped the bank double 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,” added Jamie Odell, Executive Chair of Scientific Games. “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 optimising our portfolio, deleveraging our business, and capitalising on the dynamic growth across our industry as key markets continue to reopen.”
Throsby’s appointment concludes Scientific Games’ search for an additional independent non-executive director, The decision was made following gaming industry investor Caledonia, acquiring a 34.9% stake in the company. As part of the purchase, the Scientific Games revealed that it would implement ‘certain governance enhancements and refreshment to its board’.
Along with Thornby, Scientific Games has also recently appointed Jamie Odell and Toni Korsanos as executive chair and executive vice chair respectively.