FTSE250-listed GVC Holdings has begun a new era of governance under the stewardship of Barry Gibson who will take up the role of Company Chairman.
Updating its investors this morning, GVC detailed that Gibson had taken full control of Chairman responsibilities, ending incumbent Lee Feldman’s 12-year tenure leading the FTSE-listed firm’s corporate governance structures and oversight of leadership directives.
Closing 2019 trading, GVC confirmed that the inbound appointment of Gibson as the firm’s new governance leader, choosing to abide by City guidance which suggests that executives should only serve a ‘maximum of two terms’ as corporate chairman.
Considered to be an expert in mass-market enterprise strategies, Gibson is the former Chairman of Homeserve Plc and Group Chief Executive of Littlewoods Plc.
Gibson will take up the lead of GVC governance at a time of radical change for the FTSE betting group, which seeks to expand internationally whilst also confronting a number of home market adjustments, as UK betting anticipates a comprehensive review of the 2005 Gambling Act.
Facing multiple regulatory headwinds, this week City analysts branded GVC as the ‘most bet against’ FTSE company. Market short-sellers are reported to have taken a £180 million bet on GVC’s share price performance significantly wavering in the coming weeks.
Amid a changing regulatory climate, GVC carries the ‘highest UK exposure’, maintaining the Ladbrokes Coral retail betting shop portfolio of 3,500 stores.
Gibson and GVC Group CEO Kenneth Alexander are expected to announce a number of corporate contingencies closing UK betting’s roster of FTSE results on Thursday 6 March.