888 looks to ease concerns over Mattingley re-election

15 November 2019

888 Holdings has moved to address shareholders’ concerns over Brian Mattingley’s re-election as the operator’s non-executive chairman, after a significant percentage voted against his continuing in the position.

At 888’s Annual General Meeting (AGM) in May, 21.3% of total votes cast were against Mattingley’s (pictured) re-election to the board, which had been put to shareholders in Resolution 4 of the agenda.

The operator said that in accordance with the UK Corporate Governance Code, it had contacted those shareholders to vote against Resolution 4 to understand their concerns. This revealed that the main issue with Mattingley’s re-election was the length of his time on the 888 board.

Mattingley was first appointed a director of 888 in August 2005, and has since served as its chief executive, non-executive director, executive chairman and non-executive chairman.

The board explained that his length of service reflected the “significant value” he brings to his role. It highlighted his wealth of experience of the industry and working for listed business, as well as his industry knowledge and contacts.

“The board believes Mr Mattingley's continued tenure as non-executive chairman benefits all shareholders,” it explained.

However, it added, succession planning was underway, something strengthened through the appointment of Mark Summerfield, previously head of gaming for accountancy and professional services giant KMPG, to the board in September this year.

The operator will continue to look at potential additional non-executive appointments, and will provide an update on these efforts by its next AGM in May next year.

“Any future board appointments will reflect 888's strong diversity and leadership objectives, whilst complementing and building upon the existing expertise of the board,” it added.