Playtech Shareholders Dispute With Top Executives Pay

Playtech’s annual general meeting (AGM) turned again into an argument over Chief Executive Mor Weizers salary. With nearly two thirds of shareholders voting against the pay and benefits package of €2.9 million for the 2019 year.

Although last year it was approved by shareholders in the 3 year plan the company proposed and voted on accepting the current vote is not binding and only advisory.

However at the AGM last week it again comes up on salary pay for its top executive with nearly 64% opposing the salary package. Playtech said, “There was a mix of feedback and this will be considered when designing a new remuneration policy, which will be put to shareholders for approval at the 2021 AGM.”

This followed the announcement prior that the company reported €117 million profits for the Q1 of 2020 even though the COVID-19 pandemic had severely disrupted its sports betting business.

Also at the AGM was a vote on the re-election of Chairman Ian Penrose was met with opposition with 32.6% of shareholders against appointing Penrose back as Chairman, this is believed to be connected with Penrose also chairman of Playtech’s pay committee and the dispute on Weizer’s pay.