Published
OnlineCasinoSports Betting

GVC passes new pay scheme but “disappointed” with 58% majority

Operator GVC Holdings has passed its new payment scheme, which involves reducing CEO Kenny Alexander’s salary to £800,000 ($1m) a year, at its AGM in Gibraltar.

GVC

However, GVC noted its disappointment with the 41.96% of shares used to voted against it.

While 16 of 17 other resolutions, including the re-appointment of several directors, all passed with at least an 80% majority, close to 194m shares voted against the Director’s remuneration report.

The new scheme will still be implemented, having received a 58% majority – inaccurately headlined as a "rejection" by at least one other report.

But GVC Remuneration Committee Chair, Jane Anscombe, said: "The Remuneration Committee notes and is naturally disappointed with the vote on Resolution 2.

"We engaged extensively with shareholders ahead of the AGM and would like to thank them for their helpful and constructive input. 

"We understand some shareholders ultimately felt unable to support the remuneration report, in part due to our legacy arrangements, which going forward no longer form part of our remuneration framework."


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...