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Aristocrat looks for new CFO as Toni Korsanos leaves Aussie firm

TAGs: Aristocrat, Australia, Toni Korsanos, Trevor Croker

Australia-based slot machine maker Aristocrat Leisure is on the hunt for a new financial chief financial officer after its current executive, Toni Korsanos, decided not to relocate to Las Vegas.

Aristocrat looks for new CFO as Toni Korsanos leaves Aussie firmIn a filing to the Australian Securities Exchange, the company said Korsanos will the CFO role will be moving from Sydney to Aristocrat’s Las Vegas operations starting March 2018.

“This move is occurring in the context of the relocation of Chief Executive Officer Trevor Croker to North America later this calendar year,” Aristocrat said, noting that relocating the CFO role “will help ensure continuation” of the partnership between the two executive positions “consistent with the interests of the business.”

Korsanos, however, opted out of the relocation plans, citing “family reasons at this time,” the company stated. This, in turn, prompted Aristocrat to start “a comprehensive global search” for Korsanos’ successor.

“I deeply regret but fully respect Toni’s decision not to relocate, and to instead embrace new challenges, progressing her executive career and pursuing her interest in non-executive directorships among other opportunities,” said Croker.

Korsanos’ legacy at Aristocrat, according to Croker, “includes the delivery of sustained and outstanding group performance against all key financial metrics” as well as “transformative” mergers and acquisitions.

The slot machine maker saw a 56.9 percent growth for the first half of 2017, with net profits reaching A$249.6 million (US$189.9 million) in the first six months of the fiscal year compared to the A$159.1 million delivered in the same period last year.

“This result reflected the strong performance delivered across the group’s global portfolio, particularly growth in Aristocrat Leisure’s Americas, digital and international Class III businesses, supported by sustained momentum in Australia,” the firm stated in a filing to the securities exchange.

Croker credited Aristocrat’s “outstanding results” in the first half of fiscal 2017 to “industry leading content, hardware and technology,” which “translated into exceptional operational performance despite competitive market conditions.”

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