GVC Holdings plc (LON:GVC), the global sports betting and gaming group, has today provided a further update on its Board and Executive remuneration in light of the ongoing impact of the COVID-19 pandemic.
On 6 April 2020 GVC issued a Q1 trading and COVID-19 planning update, in which it stated that the Board’s Remuneration Committee would consider the impact of COVID-19 on GVC’s performance and review the implementation of the remuneration policy for 2020 in due course.
Accordingly, at the GVC Holdings meetings of the Board and Remuneration Committee this week it was agreed it would be appropriate for the Board of Directors and members of the Group’s Executive Committee (“ExCo”) to take a voluntary 20% reduction in basic salary and fees for three months from today (1 May 2020). The Executive Board Directors and ExCo members have also decided to forego their bonuses for 2020.
