GVC issued a Q1 trading and COVID-19 planning update, in which it stated that the Board’s Remuneration Committee would consider the impact of COVID-19 on GVC’s performance and review the implementation of the remuneration policy for 2020 in due course.

Accordingly, at meetings of the Board and Remuneration Committee this week it was agreed it would be appropriate for the Board of Directors and members of the Group’s Executive Committee (“ExCo”) to take a voluntary 20% reduction in basic salary and fees for three months from today (1 May 2020). 

The Executive Board Directors and ExCo members have also decided to forego their bonuses for 2020. The company also in April had pulled its second interim dividend payment of 17.6 pence per share, saving GBP103 million.