International Game Technology

(IGT) - Get Report

Friday said G. Thomas Baker will step down, effective March 1, 2005 at the company's annual shareholder meeting. Baker submitted his resignation.

The company expects to announce a successor at or before the annual shareholder meeting in March.

Baker, who has been with the company for 16 years, became chairman Oct. 30, 2003.

"I have accomplished the career goals that I set for myself here at IGT and now want to pursue other interests," Baker said in a statement.

Shares closed at $35.61 Thursday.