GVC holdings, a popular gambling and online gambling operator in both business-to-consumer (B2C) and business-to-business (B2B) markets are looking forward to having a new chairman as the current Lee Feldman may announce to abandon his position from the FTSE100 betting group anytime soon.
Feldman has been associated with GVC holdings for over a decade. He has served GVC as governance advisor since 2004. In 2008, Feldman got to the position of corporate Chairman. As he grew in the rank, Feldman had the responsibility to create strategies for the firm and also design the organizational financing structures.
However, with things becoming rough for GVC this year after Chief Executive Kenneth Alexander disposed of 3 million shares of the company at rates below the market prices the pressure is mounting on GVC management to bring in a new chairperson. More so as Feldman has been facing the brunt of investors including Kenneth Alexander.
The company’s share prices have dropped down drastically to 519p. The investors are also not very hopeful of GVC as they are almost starting to lose confidence in the leadership and are not positive about the company’s future.
While the reasons may be different, GVC has said that chairman Feldman will be vacating the position and leaving FTSE group, as the guidelines set for FTSE chairman do not permit the same person to remain in office for more than nine years.
Also, earlier this year, when GVC released their financial report for 2018, it said that they had been facing challenges at home retail business and were looking at their global online businesses to mitigate the challenges at home.
Amidst all this, the company has already initiated the process to find a new chairman.