GVC CEO again criticized for bonus payments

The CEO of GVC Holdings, Kenny Alexander, received bonus payments of 19.1 million pounds for 2018. This calls the shareholders on the plan, which reacted with incomprehension to the high bonus payments. In any case, the CEO was criticized in advance due to the sale of large quotas of its GVC share. The bonus payments for the past financial year pour new oil into the fire.

19.1 million for one year

The well-known online gambling company GVC Holdings recently published the salary report for 2018. So it is not only A successful year for the gambling group, but also for the CEO itself. 19.1 million pounds Kenny is heavier (approx. 21.37 million $ ) thanks to the Bonus payments 2018. after the four billion heavy takeover of the bookmaker ladbrokes, the group has improved its balance sheets somewhat due to the success, but nevertheless the shareholders are angry. Kenny Alexander, who has headed GVC since 2007, received £ 16.4 million from share allocations, which became inevitable in 2018, and £ 2.7 million in salary and annual bonus. The overall package is disproportionately large for many.

Also the CEO with millions of bonus

The anger of the shareholders also pulled The CEO Lee Feldman in itself. Flowed to him Bonus payments of 8.5 million pounds (approx. 9.51 million $ ), of which most of which was also granted in company shares. the allocation of the shares was granted at the time of the fusion of gvc with the online gambling company bwin.party in 2015. since the bwin.party deal, the shares in gvc have increased by 49 percent. this could be a appeasing argument for the shareholders. however, the sale of gvc shares brought the two bosses into a bad light in march.

Equity sales despite “undervaluation”

To transform the group’s bonus shares into liquid means, sold the CEO and the Chairman large parts of their company shares. In March, Alexander and Feldman GVC shares worth 13.7 million pounds (approx. 15.33 million $ ) or £ 6 million (approx. 6.71 million $ ). Subsequently the GVC share price collapsed by more than one fifthincreased criticism has also arisen because alexander had recently described the gvc share as “clearly undervalued”. according to the outstanding protest of the shareholders, alexander has undertaken not to sell any further shares: increased criticism has also arisen because alexander had recently described the gvc share as “clearly undervalued”increased criticism has also arisen because alexander had recently described the gvc share as “clearly undervalued”. according to the outstanding protest of the shareholders, alexander has undertaken not to sell any further shares: according to the outstanding protest of the shareholders, alexander has undertaken not to sell any further shares:

“I am completely bound to GVC in the long term and therefore I will not sell any other shares in GVC as long as I’m CEO.”

The shareholder meeting accepts remuneration report anyway

As early as the previous year, the bosses received bonus payments of £ 67 million (approx. 74.96 million $ ). Due to the sales regulations and the associated sunken share prices, a rebellion of the shareholders was imminent. The remuneration report was however with 52 percent of the vote Nevertheless accepted at the general meeting. luke hildyard, Neuer Director Des Thinktanks “High Pay Center”said it was outrageous that GVC continued to award huge salary packages, although such a large proportion of investors at its general meeting would not have supported the company’s wage policy. However, Hildyard pointed out that such votes only have a consulting character, since investors only have a right to vote on society’s wage policy every three years.

“The High Pay Center is an independent Think Tank in London, which carries out research and analyzes on topics related to top income, corporate governance and corporate performance.”

Reduction of the salary should appease

Since Kenny Alexander felt more and more headwind from the ranks of shareholders, he not only ruled out a further sale of company shares. Rather, after the “feedback” of the investors, he voluntarily reported to to reduce its basic content from 950,000 to 800,000 poundshowever, this is hardly enough to calm the minds. in in relation to the overall payments, the reduction of the ceo content is only a slightly noticeable change. in gvc itself refused to comment on the bonus payments. in only a press release to the voluntary waiver of salary followed. in however, this is hardly enough to calm the mindshowever, this is hardly enough to calm the minds. in in relation to the overall payments, the reduction of the ceo content is only a slightly noticeable change. in gvc itself refused to comment on the bonus payments. in only a press release to the voluntary waiver of salary followed. in in relation to the overall payments, the reduction of the ceo content is only a slightly noticeable changehowever, this is hardly enough to calm the minds. in in relation to the overall payments, the reduction of the ceo content is only a slightly noticeable change. in gvc itself refused to comment on the bonus payments. in only a press release to the voluntary waiver of salary followed. in gvc itself refused to comment on the bonus paymentshowever, this is hardly enough to calm the minds. in in relation to the overall payments, the reduction of the ceo content is only a slightly noticeable change. in gvc itself refused to comment on the bonus payments. in only a press release to the voluntary waiver of salary followed. in only a press release to the voluntary waiver of salary followedhowever, this is hardly enough to calm the minds. in in relation to the overall payments, the reduction of the ceo content is only a slightly noticeable change. in gvc itself refused to comment on the bonus payments. in only a press release to the voluntary waiver of salary followed. in in the gvc’s remuneration report, however, there is talk of the fact that The figures for remuneration for the CEO and the CEO are “substantial”. however, in order to ensure calm among investors, the bonus payments would have to be significantly reduced in the following years and the company numbers experience further buoyancy. the newly developed us sports betting market offers one possibility. after the overlap of the nationwide ban on sports betting last year went GVC a 200 million joint venture with MGM. In Nevada, a preliminary operating permit was recently approved by the state regulatory authority, which is the starting signal for undertaking.