MIÉ 25 DE NOVIEMBRE DE 2020 - 02:10hs.
He will be replaced by COO Shay Segev

GVC Holdings CEO Kenneth Alexander to retire

Ladbrokes and bwin owner GVC Holdings announced the departure of Chief Executive Officer Kenny Alexander after 13 years in that position, during which he built the company into one of the world's biggest gambling businesses. The 51-year-old executive, who will also depart GVC’s board, said he decided to leave after reflecting on his future while working from home during lockdown.

The outgoing-CEO, who oversaw a series of major acquisitions and led the company through coronavirus lockdowns that shut down its network of gambling shops, will be replaced by Chief Operating Officer Shay Segev.

Alexander said he had made the decision over the last four months. "This feels like the right moment," he said. "I have given 13 years to GVC and I now want to give some time to my family. I have enjoyed every minute of helping to grow GVC into the business that it is today, and am proud of all that has been achieved."

“We have the best people, brands and technology in our sector, and our joint venture in the US with MGM Resorts positions us very strongly for growth in that hugely exciting market. I have spent the last four months working from home and reflecting on my future plans, and this feels like the right momento,” he added.

Shay Segev commented: “I am hugely honoured to have been given this opportunity by the board to lead GVC into the next phase of its development.”

“Kenny has been a fantastic colleague and leader during the four years I have worked with him. Thanks to his stewardship I am succeeding him at a time when the business is in robust financial health with an exceptional team and exciting opportunities ahead of it, especially in the US,” he added.

“Our strategy will continue to be focused on our industry-leading technology, brands, products, marketing capabilities and people, as well as being absolutely committed to making gambling as safe and enjoyable as possible for our customers around the world,” Segev concluded.

GVC said that Alexander has offered to remain available to Segev and the team as required.

The company posted a 86% plunge in UK retail like-for-like net gaming revenue for its second-quarter, hit by store closures due to the coronavirus lockdown. Net gaming revenue for European retail was also down 90%.

Source: GMB