Board Changes

RNS Number : 0808N

888 Holdings plc

13 May 2015

 

13 May 2015

888 Holdings Public Limited Company

("888", "the Company")

Board Changes

Following the conclusion of the Company's Annual General Meeting held today, 888 confirms that the Board changes announced on 27 August 2014 are effective immediately. Richard Kilsby has retired as Non-Executive Chairman of 888 after nine years in the role. At the same time, Brian Mattingley has stepped down as CEO of the Company and has been appointed Executive Chairman 0f 888.

888 also announces that John Anderson, Independent Non-Executive Director since December 2006 and, prior to that, CEO of 888 from 2000, has retired from the Board effective from the conclusion of today's AGM following more than 14 years' service with the Company.

In addition, the Company is pleased to announce that Itai Frieberger, Chief Operating Officer, has been appointed as an Executive Director of the Company.

In accordance with the Company's Remuneration Policy, the Company hereby discloses the remuneration to be paid in 2015 to Brian Mattingley as Executive Chairman and Itai Frieberger as COO and Executive Director, as follows:

	Brian Mattingley	Itai Frieberger
Base Salary	£290,000	£405,000
Benefits	None	Existing contractual and pension entitlements will be honoured, including car allowance, pension contributions, health insurance, life insurance and D&O insurance, as well as standard employment benefits in Israel.
Short term incentives	None	Eligible for annual cash bonus pursuant to the Company's Remuneration Policy.
Long term incentives	None	Eligible for awards under the 888 All-Employee Share Plan pursuant to the Company's Remuneration Policy. Existing contractual entitlements will be honoured.

No information is required to be disclosed pursuant to Listing Rule 9.6.13 R regarding Itai Frieberger's appointment.

Commenting on the changes, Brian Mattingley, Executive Chairman, said:

"On behalf of the entire 888 team across the world I would like to express my sincerest gratitude to Richard and to John for their considerable contributions to 888 over many years. We wish them every success for the future.

Richard has shown outstanding leadership during his nine-year tenure as Chairman which has seen 888 grow and develop significantly. I would like to extend my personal thanks for Richard's unwavering dedication and counsel during my time as Chief Executive of 888.

I am delighted to be stepping up to become Executive Chairman at such an exciting time for our business. Day-to-day operations will continue to be led by Itai Frieberger, our COO, and Aviad Kobrine, our CFO, who together have helped drive 888 forward in recent years. We are confident that we have an industry-leading team to continue the Company's growth for years to come."

Contacts and enquiries:

888 Holdings Plc	[phone]
Brian Mattingley, Executive Chairman
Aviad Kobrine, Chief Financial Officer
Itai Frieberger, Chief Operating Officer
Hudson Sandler	[phone]
Alex Brennan
Andrew Hayes Michael Sandler

[e-mail]

 

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