Gaming machine maker Aristocrat Leisure Ltd (ASX:ALL) has announced its Chairman David Simpson will step down as the company undergoes a board reshuffle.
The company says Mr Simpson, who has been Chairman since July 2004, will leave after his replacement is named.
He will stand for re-election at April’s annual general meeting but is not expected to serve a full term as Chairman.
Board members Penny Morris and Bill Baker will also retire from the board this year.
Ms Morris has been a member of the board since February 2004, while Mr Baker has served for almost 12 years.
Two new board members have been nominated as directors-elect, with their appointments subject to shareholder approval.
Mr Simpson says the three retirements and anticipated new appointments will allow the company to continue to refresh the board by bringing additional experiences and new perspectives, especially in respect of the critical US market.
Aristocrat Leisure booked a loss of $157.84 million for the 2009 calendar year.