LAS VEGAS, Oct. 15 /PRNewswire-FirstCall/ -- International Game Technology (NYSE: IGT) has named Philip G. Satre as Chairman of its Board of Directors, effective December 1, 2009. In conjunction with this action, current Chairman T.J. Matthews, who formerly served as IGT's president and CEO, will step down as Chairman but will continue to serve on the board.
"Phil Satre brings a tremendous wealth of gaming industry experience and, most importantly, a customer's perspective to his new position which will benefit IGT now and for many years to come," stated Patti Hart, IGT President and CEO.
"I have been very impressed with Phil's contributions since he joined IGT's board earlier this year and I look forward to working with him as we move forward to accomplish the Company's goals and objectives," Hart further stated. "In addition, I am pleased that Mr. Matthews will continue to serve on the IGT board. We are fortunate to have the combined experience and knowledge of both Phil Satre and TJ Matthews."
"Congratulations to Phil Satre in accepting the leadership role of our Board," stated Mr. Matthews. "I appreciate his contribution to our management succession efforts and I am looking forward to assisting Phil and Patti as our industry recovers and IGT continues its advancements in both games and technology," Matthews added.
Satre has served on IGT's board of directors since January of 2009 and also serves as Chairman of Nevada Energy, Inc. He also serves as a board member of Nordstrom, Inc., Rite Aid Corporation, Stanford University and the National World War II Museum.
Mr. Satre retired from Harrah's Entertainment, Inc. in 2005, having served on the company's board of directors since 1988 and as Chairman since 1997. Between 1980 and 1997, Mr. Satre held various management positions at Harrah's, including CEO of Harrah's Entertainment, Inc., President and CEO of Harrah's Gaming Division, and Vice President, General Counsel and Secretary. Mr. Satre received his undergraduate degree from Stanford University and his Juris Doctorate from the University of California at Davis.
"I am very excited about the opportunity to help lead a great company into the future. Despite the challenges facing our industry today, I am very optimistic about the future of gaming and the Company's future," Satre stated. "I look forward to working with my Board colleagues and with Patti Hart and her senior team to lead the Company into the future," Satre added.
International Game Technology (www.IGT.com) is a global company specializing in the design, development, manufacturing, distribution and sales of computerized gaming machines and systems products.
SOURCE International Game Technology
