GVC Holdings PLC the FTSE 100 gaming group, has announced that Kenneth Alexander is to retire after 13 years as Chief Executive Officer. Shay Segev will succeed, currently GVC’s Chief Operating Officer.
These unexpected changes come as part of a long term process which comes into effect from close of business tomorrow. Kenneth will still be available for the team as required.
Joining GVC as CEO in 2007, Kenneth has guided its development from a small AIM-listed company to a FTSE 100 global sports betting and gaming business, with over 25,000 colleagues in 20 offices across five continents.
Kenneth Alexander commented:
“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 moment. Whilst it is never easy to hand the baton on, it has been very clear for a number of years now that Shay is the right person to succeed me. He is an outstanding leader with a clear strategic vision and unrivalled technological expertise. As a shareholder, I know that our Company will be in good hands. He is also a firm advocate for the strongest possible protection for customers, and shares my philosophy that only a responsible company can be a sustainable and successful company.”
Barry Gibson, Chairman of GVC, commented:
“Kenny has built a remarkable global business, and has achieved more in the past 13 years than most people manage in a lifetime. We will miss him, but we also understand his wishes to hand over the reins after such a long and successful stint at the top of the Company. On behalf of the Board, I would like to sincerely thank him for his significant contribution to GVC.
“The Board has kept succession plans under constant review, and has been extremely impressed by Shay’s contribution and leadership. We are very fortunate to have such a well-qualified and natural successor. He has a long track record of leading technology businesses, overseeing complex integration projects, and running large teams at a senior level. Today’s trading update shows just how strong this business is, and we look to the future with confidence under Shay’s leadership.”
Joining in 2016, Shay occupied the role of COO after the GVC acquisition of bwin,party digital entertainment plc. Shay already has an active role with its US joint venture with MGM Resorts, all Group M&A activity, the GVC proprietary technology platform, its retail business, as well as the product, trading and customer service teams, amongst others.
Shay Segev commented:
“I am hugely honoured to have been given this opportunity by the Board to lead GVC Holdings 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. 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.”