GVC Holdings PLC Change of Director (4035E)

TIDMGVC

RNS Number : 4035E

GVC Holdings PLC

18 October 2018

18 October 2018

GVC Holdings PLC

("GVC", the "Company")

Change of Director

GVC Holdings PLC (LSE: GVC), the multinational sports betting and gaming group, is pleased to announce that Rob Wood has been appointed Deputy Chief Financial Officer with immediate effect with the intention that he will succeed Paul Bowtell as GVC's Chief Financial Officer ("CFO") following his decision to step down from the Board on 5 March 2019.

Rob Wood has been with the group for six years and is the CFO of the Ladbrokes Coral UK Retail business, the largest division in GVC, having originally joined Coral Retail as the Business Development and Strategy Director. He has played a key role in Retail delivering synergies of more than GBP80m from the merger of Ladbrokes and Coral and has been instrumental in driving a multi-channel offering and the detailed planning for a post-Triennial Review environment.

After seven years as CFO of first Gala Coral, then Ladbrokes Coral plc and now GVC, Paul Bowtell has decided to leave the Company in order to take up a role with Alchemy Partners, the private equity firm. He will step down on 5 March 2019, when GVC expects to announce its 2018 annual results.

Lee Feldman, GVC's Chairman, commented:

"Having undertaken a rigorous selection process, we are delighted to appoint Rob as our Chief Financial Officer Designate. Rob will be a great addition to the Board and his appointment demonstrates the strong bench of talent within GVC. On behalf of the Board, I would like to thank Paul for his invaluable contribution over the years to Gala Coral, Ladbrokes Coral and GVC. We wish him well with his new role."

Paul Bowtell commented:

"I have thoroughly enjoyed my time with GVC and I am pleased that I can hand over my CFO responsibilities to someone with Rob's experience of the sector and understanding of the group's business. This will be critical for GVC in driving growth in its key markets and extracting the synergies from the GVC acquisition of Ladbrokes Coral."

Rob Wood commented:

"I am delighted to step up to the role of CFO designate and would like to thank Paul for his mentorship and guidance. I look forward to working with Kenny and the wider management team as we execute on our strategy."

Prior to joining the GVC group, Rob Wood was a Senior Vice President at Cerberus Capital Management for four years working with portfolio companies across Europe, having joined from NM Rothschild's corporate restructuring department and before that having spent five years in KPMG's corporate restructuring team.

Rob is a qualified accountant and a Fellow of the Institute of Chartered Accountants in England and Wales and has a BSc degree in Mathematics and Management Studies from the University of Nottingham.

There are no other disclosures to be made for Rob Wood under Listing Rule 9.6.13.

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LEI: 213800GNI3K45LQR8L28

For further information:

 
GVC Holdings PLC 
Kenneth Alexander, Chief Executive 
Paul Bowtell, Chief Financial Officer 
 
Nick Batram, Director of Investor Relations & External Communications 
Paul Tymms, Head of Investor Relations                                     [e-mail] 
 
Media enquiries: 
Buchanan Communications 
David Rydell/Henry Harrison-Topham/Chris Lane                          Tel: [phone] 
 

About GVC

GVC Holdings PLC is one of the world's largest sports-betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes and Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, partypoker and PartyCasino. The Group owns proprietary technology across all of its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. GVC acquired Ladbrokes Coral Group plc on 28 March 2018 and is now the UK's largest high street bookmaker, with over 3,500 betting shops. The Group, incorporated in the Isle of Man, is a constituent of the FTSE 100 index and has licences in more than 20 countries, across five continents.

For more information see the Group's website: www.gvc-plc.com

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October 18, 2018 02:01 ET (06:01 GMT)