1 May 2020 07:00
1 May 2020
GVC Holdings PLC
("GVC" or the "Group")
Board and Executive Remuneration
GVC Holdings PLC (LSE: GVC), the global sports betting and gaming group, is today providing a further update on its Board and Executive remuneration in light of the ongoing impact of the COVID-19 pandemic.
On 6 April 2020 GVC issued a Q1 trading and COVID-19 planning update, in which it stated that the Board's Remuneration Committee would consider the impact of COVID-19 on GVC's performance and review the implementation of the remuneration policy for 2020 in due course.
Accordingly, at meetings of the Board and Remuneration Committee this week it was agreed it would be appropriate for the Board of Directors and members of the Group's Executive Committee ("ExCo") to take a voluntary 20% reduction in basic salary and fees for three months from today (1 May 2020). The Executive Board Directors and ExCo members have also decided to forego their bonuses for 2020.
ENDS
Enquiries:
Investor Relations GVC Holdings PLC |
| ||
David Lloyd-Seed, Director of Investor Relations & External Communications | Tel: +44 (0) 203 938 0000 | ||
Jennifer Spencer, Investor Relations Manager
| (investors@gvc-plc.com) | ||
Media GVC Holdings PLC Jay Dossetter, Head of CSR & Corporate Communications |
media@gvcgroup.com | ||
Powerscourt | |||
Rob Greening / Elly Williamson | Tel: +44 (0) 20 7250 1446 | ||
LEI: 213800GNI3K45LQR8L28
About GVC Holdings PLC
GVC Holdings PLC is one of the world's largest sports-betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds and Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, partypoker and PartyCasino. The Group owns proprietary technology across all of its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. The Group has also entered into a joint-venture with MGM Resorts to capitalise on the sports-betting and gaming opportunity in the US. The Group, incorporated in the Isle of Man, is a constituent of the FTSE 250 index and has licences in more than 20 countries, across five continents.
For more information see the Group's website: www.gvc-plc.com