Governance and Board

The Directors recognise the importance of sound and effective corporate governance commensurate with the status of the Company as a company admitted to trading on AIM, as well as taking into account the interests of shareholders.  Whilst GVC complies with relevant Isle of Man law and regulations, no specific corporate governance regime is applicable to it under Isle of Man law. The UK Corporate Governance Code does not apply to Companies quoted on AIM and as such GVC does not comply with it.

GVC maintains an Audit Committee and a Remuneration Committee.

GVC will hold at least four board meetings throughout the year and will meet more frequently if required. The GVC Board is responsible for formulating, reviewing and approving the GVC Group's strategy, budgets, major investments and acquisitions.

The Audit Committee is chaired by Karl Diacono and its other member is Lee Feldman. Richard Cooper attends the Audit Committee meetings by invitation. The Audit Committee meets at least three times each year and is responsible for assessing the GVC Group's internal controls, monitoring the independence of the GVC Group's auditors, assessing the GVC Group's audit arrangements, ensuring that the financial performance is properly monitored and reported on and meeting with the auditors and reviewing reports from the auditors relating to accounts and internal control systems.

The Audit Committee is chaired by Karl Diacono and its other member is Lee Feldman. The Remuneration Committee meets at least twice a year. It reviews the performance of the Chairman, the Executive Directors and designated members of senior management and, in consultation with the Chairman or Chief Executive, as appropriate, sets the scale and structure of their remuneration. It also reviews the basis of their service agreements with due regard to the interests of the GVC Shareholders and makes recommendations to the GVC Directors concerning the allocation of share options to employees and bonus arrangements of any consultant to or employee of the GVC Group. No GVC Director is permitted to be present or participate in discussions or decisions concerning his own remuneration.

GVC has adopted a share dealing code for its directors' and key employees' share dealings which the GVC Directors believe is appropriate for an AIM quoted company. The GVC Directors comply with Rule 21 of the AIM Rules for Companies relating to Directors' Dealings and in addition will take all reasonable steps to ensure compliance by applicable employees.

 

Lee Feldman: Non-executive Chairman [Bio >>]

Lee Feldman: Non-executive Chairman

Lee joined GVC in December 2004. He is the Managing Partner of Twin Lakes Capital, a private equity firm focused on branded consumer products, media and business services. He is also the CEO and a board member of both MacKenzie- Childs and Jay Strongwater, the American luxury home furnishings and personal accessories companies. Lee was appointed the CEO of MacKenzie-Childs when Twin Lakes led the acquisition of the business in May 2008 and was appointed the CEO of Jay Strongwater when Twin Lakes formed Jay Strongwater LLC in August 2011. He is also a member of the board of directors of both PacificHealth Labs and LRN Corporation. Prior to co-founding Twin Lakes, Lee was a partner in Softbank Capital Partners. He has a B.A and J.D. from Columbia University.

Kenny Alexander: Chief Executive [Bio >>]

Richard Cooper: Group Finance Director [Bio >>]

Karl Diacono: Non-executive Director [Bio >>]

 

Page last up-dated: 8 August 2014