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Another British bookmaker feels the heat

Following a 38% William Hill investor rebellion this week, with shareholders disgruntled about CEO Ralph Topping’s remuneration package, Ladbrokes investors appear to have followed suit.

British media are reporting that 40% of Ladbrokes investors opposed the company’s remuneration report or abstained from the vote.

Shareholders are reportedly protesting a retention bonus paid to Brian Wallace , the outgoing Finance Director, who was paid £1.58 milllion in 2010. Wallace left the company after receiving the bonus.

Ladbrokes claims “the bonus was awarded at a time when it had just lost its chief executive Chris Bell and didn’t want to lose a finance director as well, reports The Guardian.

Ladbrokes said: "We have noted the disquiet expressed by some of our shareholders and have recorded it for future reference."

Source: InfoPowa News

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