Aristocrat names Dafne Guisard CEO-elect as Trevor Croker prepares to retire
Aristocrat Leisure (ASX: ALL) has announced a CEO transition, with Trevor Croker, CEO & Managing Director, intending to retire in April 2027. The Board has appointed Dafne Guisard as CEO (elect), subject to the receipt of any necessary regulatory pre-approvals.
The Board sought external advice and considered both internal and external candidates. Guisard is expected to succeed Croker in April, following a comprehensive transition, and Croker will remain with the company to support her for twelve months from the 12 November 2026 announcement.
Guisard will relocate to Las Vegas from Aristocrat’s London office to take up the role.
Key facts from the announcement:
- Outgoing CEO: Trevor Croker, CEO & Managing Director
- Incoming CEO: Dafne Guisard, CEO (elect)
- Expected handover: April 2027
- Support period: twelve months from the announcement
- Relocation: London to Las Vegas
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Who is Dafne Guisard?
Career snapshot
Guisard joined Aristocrat’s executive team in early 2026 as Chief Commercial Officer for EMEA, a role she has held since February 2026. She has since also taken on responsibility for the Product Madness operating business, which recorded FY25 revenues of over US$1 billion.
Her earlier roles, as set out in the announcement, include:
- Chief Operations Officer, Entain PLC: ran operations across 30+ regulated markets, leading more than 2,500 people.
- Chief Strategy, Transformation & Digital Officer, The Kraft Heinz Company: delivered a technology pipeline projected to generate US$1.5 billion in EBIT over five years.
- Group SVP, Strategy, Insights & Commercial Operations, AB InBev: built the innovation engine behind approximately US$2 billion in new net sales within three years.
Guisard holds an MBA from the Massachusetts Institute of Technology (MIT) Sloan School of Management and a Master of Science from MIT.
Why the Board chose her
Chairman Neil Chatfield said the Board considers Guisard an outstanding product and people-focused executive with an exceptional track record of delivering growth and transformation across multiple complex consumer industries. The Board also pointed to her deep product and technology skills, and to the benefits of an internal appointment, including performance continuity and scope for a seamless transition.
Neil Chatfield, Chairman
“the Board considers Dafne the ideal choice to succeed Trevor. Dafne is an outstanding product and people-focused executive with a strong commitment to customers…”
Croker’s legacy: a fourfold rise in market cap
The Board said Aristocrat’s market cap grew fourfold to almost $40 billion, with an EPSA CAGR of 15% delivered over Croker’s tenure as CEO. That tenure will have spanned more than a decade as CEO and 18 years in senior leadership at the company.
Aristocrat’s HY26 results show that momentum continuing into the final stretch of Croker’s tenure, with market share gains across all three segments and a larger buy-back program backing earnings growth.
The Board cited the following achievements:
- A refreshed strategy and a step-change in organisational capability
- Product leadership cemented across regulated markets
- Share growth in all key markets in which Aristocrat operates
- Benefits from the company’s increasing scale
- Election as Chair of the American Gaming Association
Croker pointed to the approach behind that record and said the timing suits a handover.
Trevor Croker, CEO & Managing Director
“…By maintaining focus on our competitiveness, with strong organic investment to grow our share with our customers and disciplined M&A to accelerate strategic opportunities and capabilities, we have further extended Aristocrat’s track record of high-quality growth… Now is therefore the ideal time to begin the process of the CEO transition…”
Guisard said she looks forward to working with Croker, the Board and her executive team colleagues.
Dafne Guisard, CEO (elect)
“…I look forward to working closely with Trevor, the Board and my executive team colleagues to ensure a smooth transition, and accelerate our momentum over coming years…”
Guisard’s contract terms
The key terms below have been agreed between Aristocrat and Guisard and will apply from her commencement as CEO, expected in April 2027 and subject to receipt of any necessary regulatory pre-approvals.
| Key term | Details |
|---|---|
| Total fixed remuneration (Cash) | US$1,050,000 |
| FY27 Short-Term Incentive (50% cash, 50% deferred equity) | 1.5x fixed remuneration, up to a maximum of 2x target |
| FY27 Long-Term Incentive (annual performance share rights allocations) | 3x fixed remuneration, up to a maximum of 1x target |
| Termination notice | Employee initiated 6 months; company initiated 12 months; no notice in case of ‘for cause’ termination |
| Severance entitlement | 12 months’ total fixed remuneration |
| Non-compete and non-solicitation | 12 months following cessation of employment |
What happens next for Aristocrat
The announcement sets out the following steps:
- Any necessary regulatory pre-approvals for Guisard’s appointment as CEO (elect), which the appointment is subject to receiving.
- April 2027: Guisard is expected to succeed Croker as CEO, commencing under the contract terms, following a comprehensive transition.
- Twelve months from 12 November 2026: Croker’s period of support for Guisard.
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