Report
Expert Corporate Governance Service (ECGS)
EUR 1000.00 Purchase single report

Paddy Power Betfair - AGM 15 May 2019

Leadership

On 7 January 2018, the Company's former CEO, Breon Corcoran, resigned.  The following day Peter Jackson became the Companyns Chief Executive Officer. He previously served as a Non-executive Director of the Company.

 Item 3: Approve the Remuneration Report

The remuneration structure is unsatisfactory.  The maximum bonus exceeds guidelines, severance can include a bonus and accelerated vesting is possible. The quantum exceeds guidelines. Recruitment awards were paid to the newly appointed CEO and CFO.  We recommend shareholders oppose.

 Item 12: To change the name of the Company to Flutter Entertainment plc

The Company is seeking shareholder approval to change its name to mFlutter Entertainment plcnThe Directors state that the reason to change the name is to have a name that reflects the full business activities of the Company rather than just a particular brand. As no adverse effects on shareholders have been identified, we recommend shareholders vote in favor.

Underlying
Paddy Power Betfair

Paddy Power Betfair is a sports betting and gaming operator. Co. operates four sports betting and gaming brands: Paddy Power, Betfair, Sportsbet, and TVG. In addition, Co. operates across four operating divisions: Online, which is an online sports betting operator in the U.K. and Ireland; Australian, which is known as Sportsbet and is focused on sports betting, with products and marketing around national sports events; Retail, which operates Paddy Power betting shops across the U.K. and Ireland; and U.S., which consists of TVG, a horseracing TV channel and online pari-mutuel wagering operator active in over 30 states, and Betfair, an online casino and horse-racing Exchange in New Jersey.

Provider
Proxinvest
Proxinvest

Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.

Proxinvest main services are :

  • ​Proxy reports
  • Definition and monitoring of client customized voting guidelines
  • Corporate Governance Data and Rating
  • Thematic research
  • Engagement support

Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.

Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.

As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide. 

Analysts
Expert Corporate Governance Service (ECGS)

Other Reports on these Companies
Other Reports from Proxinvest
Other Reports from these Analysts

ResearchPool Subscriptions

Get the most out of your insights

Get in touch