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UK business news sources have reported that GVC Holdings will soon confirm the appointment of Barry Gibson as new Group Chairman of the FTSE gambling firm. He will succeed Lee Feldman.
The appointment of Mr. Gibson will mark the end of GVC’s seven-month search for a new chairman after the company announced Mr. Feldman’s departure earlier this year. Mr. Gibson will be joining the firm’s corporate governance team from FTSE100 UK support services and emergency repairs provider HomeServe Plc.
He also previously sat on the boards of gambling technology giant Playtech and British bookmaker William Hill, and served as director of bwin.party Digital Entertainment right before the company was purchased by GVC in 2015.
Feldman departure was announced shortly after, he and The GVC’s chief executive Kenny Alexander both sold in March £20 million worth of company shares, practically halving their personal stakes. Many interpreted the sale as loss of confidence in GVC’s future, which drove the operator’s price down 20% in a single day. GVC board hopes that the appointment of Mr. Gibson, a gambling industry veteran, will help investor relations.
According to media reports, the company is not likely to replace its CEO anytime soon, after Mr. Alexander said that he was confident in GVC’s future as a leading gambling operator. In August, he purchased back £5 million worth of company stock to reassure investors.
