Ladbrokes Shareholders In Protest

LADBROKES SHAREHOLDERS IN PROTEST

13th May, 2011 at 16:01:37
Source: http://www.azonlinecasinos.com

Another British bookmaker feels the heat

Following a 38% William Hill investor rebellion this week (see previous reports), 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."

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