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Firm names president

Tuesday, March 11, 2003 | 9:24 a.m.

SYDNEY, Australia -- Aristocrat Leisure Ltd., the world's second-largest slot machine maker, Monday named Gavin Isaacs as president of its North and South American units.

Isaacs, currently head of the company's European unit, succeeds Mark Newburg, who left the company last week, Aristocrat said in a statement to the Australian Stock Exchange.

The Sydney-based company said last week three U.S. executives would leave after a decline in U.S. sales cut earnings. Henry Krawczyk will replace Isaacs in Europe, it said.

Aristocrat shares rose 3 cents, or 1.8 percent, to A$1.68 at 4 p.m. in Sydney Monday. The stock has fallen 67 percent in the last six months.

The company announced the management changes after the market closed.

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