Playtech names 888’s Brian Mattingley as Chairman
Online gaming and financial tech and services provider Playtech (LON:PTEC) has announced that Brian Mattingley has been selected as Non-Executive Chairman. Brian Mattingley succeeds Claire Milne, who has served as Interim Chairman since May 2020.
Remuneration for Brian Mattingley as Chairman of Playtech has been set at £338,000 per annum.
The company said that Mr. Mattingley will be stepping down as Chairman of 888 Holdings Plc and his appointment as Chairman of Playtech, and to the Board, will take effect on 1 June 2021.
Brian Mattingley brings considerable PLC Board experience to the new role, as well as his extensive experience in the gambling and leisure industries. Brian first joined 888 Holdings in 2005 as a Non-Executive Director, before being appointed CEO in March 2012, and has been Non-Executive Chairman since March 2016. Prior to 888, Brian was CEO of Gala Regional Developments, and held senior roles with Gala Group, Ritz Bingo, Kingfisher Plc and Dee Corporation Plc.
The company’s board had been under some pressure lately by activist shareholders, who rejected Playtech’s Director pay policy at the last shareholder meeting in May 2020. As an experienced director and Chairman, Mr. Mattingley should be a good addition in terms of dealing with that. His appointment also makes sense in that Playtech is looking to divest non-core assets, to focus on its main gaming business. In that regard Playtech is in active discussions to sell its financials businesses Finalto and Markets.com.
Claire Milne, Interim Chairman, commented:
“In selecting the new Chair, we wanted to appoint an individual with significant online gambling experience and a track record of delivering high levels of corporate governance and stakeholder engagement in a highly regulated and fast-growing industry. Over the course of the last 30 years Brian has delivered strongly in these areas and has been at the forefront of the development of our industry. We are delighted that someone of Brian’s calibre is joining the Board and look forward to benefitting from his experience to support our continued progress and growth.”
Brian Mattingley, Chairman Designate, commented:
“I’m very pleased to be joining Playtech, at such an exciting time in the Company’s development. Playtech is ideally placed to continue to build on its market leadership position and I look forward to working with everyone at Playtech to drive forward its strategy and capitalise on the opportunities ahead.”
John Jackson, Senior Independent Director, commented:
“On behalf of the Board of Playtech I would like to express our thanks to Claire for serving as Interim Chairman. Claire has provided continuity and stability during the pandemic, helping to enable Playtech to deliver a strong performance in 2020.”