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IGT to reduce board size as Bassey departs


International Game Technology (IGT) is to downsize its board of directors to 10 members after Beatrice Bassey announced she would not stand for re-election.

Bassey, who became an independent board member at IGT in March 2020, will serve out the remainder of her term before stepping down after the gambling technology giant’s annual general meeting on May 11.

IGT said Bassey’s decision was due to other professional commitments, as well as certain challenges caused by the novel coronavirus (Covid-19) pandemic.

In addition to leaving the IGT board of directors, Bassey will step down from the Nominating and Corporate Governance Committee.

IGT will not replace Bassey and, as a result, will reduce the size of its board to 10 members, effective immediately after its AGM next month.

“On behalf of the IGT board of directors, I would like to thank Beatrice for her dedicated service and valuable contributions to the board,” IGT chairman Lorenzo Pellicioli said. “We wish her well in her future endeavours.”

Last month, IGT reported a net loss of $838.7m for its 2020 financial year, after the closure of casinos and other restrictions caused by the Covid-19 pandemic led to a sharp drop in revenue.

Total consolidated revenue in the 12 months to December 31 amounted to $3.12bn, down 22.7% from $4.03bn in the previous year, with IGT seeing declines across both its global lottery and global gaming businesses.