Aristocrat chief scores jackpot for turnaround
The former Foster's executive, pictured, earned $3.2 million for the nine months to September 30 - the company's new financial year-end date - nearly $1 million more than for the whole of the previous year, according to the company's annual report.
For the prior financial year ending December 31, Mr Odell was paid $2.26 million.
The company has tightened its bonds, Mr Odell signing a new service agreement that increases his resignation notice period from three to six months and his non-compete service period from six to 12 months.
The main boost to his remuneration for the nine months to September was a $1.1 million increase in the value of his long-term incentive pay compared with the previous year, reflecting the growing view that Aristocrat's five-year turnaround program is starting to show results.
Aristocrat nearly doubled its net profit in the nine months to September to $45.5 million, from $19.9 million, in the same period last year. Aristocrat shares, which started the year at $2.20, hit a year high of $3.28 earlier this month.
Frequently Asked Questions about this Article…
Jamie Odell earned $3.2 million for the nine months to September 30, up from $2.26 million for the prior financial year. The main boost was a $1.1 million increase in the value of his long-term incentive pay, reflecting the view that Aristocrat's five-year turnaround program is starting to show results.
Aristocrat nearly doubled its net profit in the nine months to September to $45.5 million, up from $19.9 million in the same period last year.
Aristocrat tightened Odell’s bonds by increasing his resignation notice period from three to six months and extending his non-compete service period from six to 12 months, according to the company report.
Aristocrat shares started the year at $2.20 and hit a year high of $3.28 earlier this month, based on the article's reporting.
The company now uses a new financial year-end date of September 30, so the reported remuneration covers the nine months to that new year-end.
The $1.1 million rise in long-term incentive value is presented as evidence that Aristocrat’s five-year turnaround program is starting to deliver results, which is one signal investors often watch alongside profit and share-price movements.
Jamie Odell is the chief executive of Aristocrat Leisure and a former Foster's executive, as noted in the company’s annual report cited by the article.
The article highlights stronger profits, a rising share price and higher CEO long-term incentives tied to a turnaround plan. These are signs the company believes performance is improving, but the article sticks to reporting figures rather than offering investment advice.
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