May 2, 2019

Chief of Ladbrokes Coral owner awarded £19.1m for 2018

The chief executive of GVC, the gambling group that owns Ladbrokes Coral, is at risk of a second major clash with shareholders after he was awarded £19.1m in pay for 2018. Kenny Alexander, who has led GVC since 2007, received £16.4m from share awards that vested in 2018 as well as £2.7m in salary and annual bonus. According to GVC's annual report published on Wednesday, GVC chairman Lee Feldman received £8.2m in previously granted share awards and a £350,000 basic salary. GVC acknowledged in the report that the remuneration figures for the chairman and chief executive were "Substantial". In March, GVC announced a third consecutive full year loss for 2018 because of costs associated with writedowns in its retail estate and back taxes incurred in Greece.

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