Ladbrokes Coral Group PLC Directorate Change (3970V)
November 02 2017 - 6:30AM
UK Regulatory
TIDMLCL
RNS Number : 3970V
Ladbrokes Coral Group PLC
02 November 2017
LADBROKES CORAL GROUP PLC
Directorate change
Following completion of his one year fixed term of appointment,
Carl Leaver stepped down as a Director of Ladbrokes Coral Group plc
on 31 October 2017, and ceased to be employed by the Group on this
date.
In accordance with section 430 (2B) of the Companies Act 2006,
Mr Leaver will receive his current salary, pension and benefits up
until 31 October 2017 but will not receive any further fixed pay,
notice pay or severance after this date.
As outlined in the 2016 Directors' Remuneration Report, Mr
Leaver is eligible to receive a discretionary bonus subject to the
successful delivery of certain synergy measures arising from the
merger between Ladbrokes and Coral in November 2016. Under the
terms of Mr Leaver's contract, this will be determined by the Board
Remuneration Committee and, as part of the year end process, will
be disclosed alongside other directors' remuneration in the 2017
Annual Report and Accounts.
John Kelly, Chairman of Ladbrokes Coral said:
"Over a period of 6 years, Carl led a major turnaround of the
Gala Coral Group, culminating in the deal to merge with Ladbrokes
to create Ladbrokes Coral Group plc.
I would personally like to thank Carl for agreeing to join the
newly merged company for a fixed one year term to drive the
integration of the two businesses. Working with the management
team, his leadership has been critical to the delivery of synergies
well over double the original target. He leaves a business
well-positioned for the future and we wish him well."
Geoff Mason
Company Secretary
Legal Entity Identifier: 213800P7FJOPCV4H3J04
Enquiries
Paul Tymms, Director of Investor Relations
Donal McCabe, Group Communications Director
+44 (0)20 8429 7777
This information is provided by RNS
The company news service from the London Stock Exchange
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