Investors revolt against executive pay at GVC Holdings

Posted by Aktis Team on 5 June 2019

Over 40% of investors at GVC have voted against the company's remuneration report owing a £19.1m pay package to the CEO for 2018. The large remuneration package was largely down to stock awards granted for completion of the merger of Ladbrook with Bwin.party in 2015. GVC's share price has fallen more than 40% in the last year raising raising concerns with investors over whether remuneration is linked with long-term performance. This was further compounded by the fact that the CEO was also on course to recieve a 13% pay rise during the year, but has since agreed to halve this amount to 6.7% after investors raised concerns.

The Financial Times, Alice Hancock, June 5th 2019

Topics: News Watch, UK