The chairman of Playtech, the London-listed playing know-how group, is to step down, triggering a seek for a successor with a style for stringent company governance challenges.
Egon Zehnder Worldwide, the boardroom headhunter, is being appointed to deal with the seek for Mr Mattingley’s successor, in line with a supply near the scenario.
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A former chairman and chief govt of 888, the London-listed gaming firm now often known as Evoke, Mr Mattingley was additionally a founding director of Gala Leisure.
At Playtech, he has overseen a frenetic interval of company exercise whereas additionally discovering himself within the eye of a sequence of storms with shareholders over boardroom pay and wider company governance.
The newest of these got here in December when near a 3rd of buyers rebelled over a €100m bonus plan for Mor Weizer, the corporate’s chief govt, together with different senior executives.
Shareholders give Mr Mattingley credit score, nonetheless, for serving to to navigate the corporate by a difficult interval within the playing trade, specifically his position final 12 months in securing the sale of Snaitech, its Italian shopper playing arm, for €2.3bn.
That represented a virtually threefold return on Playtech’s preliminary funding within the enterprise, triggering complete returns to shareholders of as much as €1.8bn – a sum nearly equal to the entire particular dividends paid by London-listed corporations in 2023.
The sale of Snaitech will rework Playtech right into a pure-play business-to-business operation.
Throughout Mr Mattingley’s three-and-a-half 12 months tenure, shares within the firm have risen by about 60%.
A Playtech spokesperson declined to touch upon Tuesday.
