The boss of the UK’s largest gambling company, GVC, which owns Ladbrokes, has announced he’s going to swallow a £150,000 pay cut in the hope it will quell a swelling shareholder rebellion at the firm’s annual meeting on Wednesday. The only problem is the cut in Kenny Alexander’s basic salary, from £950,000 to £800,000, doesn’t touch the Scot’s long-term incentive plan (LTIP). The mega-bonus scheme bumped up Alexander’s total pay package to £19.1m for 2018, and £18.3m the year before. The salary reduction, which GVC said came after “feedback” from investors, equates to a overall cut of just ...
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