Issuing a market update, FTSE-listed online gambling group GVC Holdings has confirmed that former party.bwin Entertainment Chief Executive Norbert Teufelberger has stepped down from his duties as a company Non-Executive Director.
Teufelberger had been appointed a GVC Holdings governance member, following the company’s 2016 £1 billion outright acquisition of bwin.party Entertainment.
Updating stakeholders, GVC announced that Teufelberger had finished his ‘two-year agreement’ to serve the enlarged enterprise as a corporate advisor.
GVC Holdings Chairman Lee Feldman commented on the update: “I would like to thank Norbert for his contribution to the board over the last two years. He provided valuable insight into the bwin.party business, following the takeover of that group, and the gaming industry. We wish him well with his other ventures.”
GVC currently awaits the final shareholder decision with regards to its proposed £4 billion takeover of FTSE rival Ladbrokes-Coral Plc (deal first announced 7 December).
Last week, deal parties informed stakeholders, that should the takeover be accepted, governances will move to complete the merger by Q1 or early Q2 2018, forming a new FTSE enterprise.