UK business news sources reported this weekend that GVC Holdings will confirm Barry Gibson’s appointment as the FTSE gambling company’s new group chairman.
Sky News, The Times and The Daily Telegraph confirm that Gibson is perceived by GVC’s board to be the man to soothe shareholder relationships, following the company’s governance battle over outgoing Chairman Lee Feldman and Chief Executive Kenneth Alexander to approve a joint private selling of £ 20 million of their corporate stock.
Feldman and Alexander’s transactions (performed 6-8 March 2019) would be questioned by investor members, who alleged that GVC executives had shown a ‘lack of faith in the company’s prospects’, with FTSE adapting to a new UK regulatory environment imposed on betting operators.
Closing Q1 trading, GVC governance confirmed that Lee Feldman would step down as Group Chairman, citing that FTSE guidance would be adhered to by the executive, recommending that no PLC chairmanship be held for more than nine years.
Expected to be announced this week, the GVC Board will announce Gibson’s appointment as Chairman, joining the FTSE100 UK corporate governance group and emergency repair provider HomeServe Plc.
Gibson has previous experience in management of the gaming industry with Playtech, William Hill and bwin.party Digital as a business advisor.
A specialist in mass-market business strategies, Gibson is Littlewoods plc’s former Group Chief Executive and Non-Executive Director of Somerfield plc, National Express plc, and Harding Brothers Holdings Ltd’s non-Executive Chairman.