Gaming operator GVC Holdings approved a new payment scheme with just over 58% of shares in favour, which disappointed some executives.
UK.- British operator GVC Holdings approved its new payment scheme, but not without controversy. The vote only got 58% of the shareholders’ approval, which was disappointing to some company executives.
Most of the resolutions passed with at least an 80% majority, but almost 200 million shares voted against the Director’s remuneration report. The vote reduced CEO Kenny Alexander’s salary to €900k a year.
“The Remuneration Committee notes and is naturally disappointed with the vote on Resolution 2,” Committee Chair, Jane Anscombe, said. “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.”