Playtech Share News (PTEC)

(Sharecast News) - Gambling software company Playtech said on Monday that Claire Milne has been appointed as interim chair as the recruitment of a permanent chairman has been delayed due to the coronavirus outbreak.
Playtech announced in February that the recruitment of a chairman was at an advanced stage when the Covid-19 pandemic began to have an impact.

"However, considering the current business and market environment, it has been decided to delay the process of appointing a permanent chairman," the company said.

"This decision took account of the travel restrictions which inevitably impacted on the ability to conclude the comprehensive process to select a new chairman, and the ability to carry out an effective induction programme for any external appointee to get to know the business, and to meet regularly with the CEO, CFO, board members and senior management internationally at this important time."

Milne succeeds Alan Jackson, who was chairman for seven years.

Playtech's chairman pay is ?290,000. However, following the company's decision to implement a 20% pay cut for executives and non-executive directors from 1 April, Milne will be paid ?232,000 "for the immediate future".