Expert Corporate Governance Service (ECGS)
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Paddy Power Betfair - AGM 15 May 2019


On 7 January 2018, the Company's former CEO, Breon Corcoran, resigned.  The following day Peter Jackson became the Companyns Chief Executive Officer. He previously served as a Non-executive Director of the Company.

 Item 3: Approve the Remuneration Report

The remuneration structure is unsatisfactory.  The maximum bonus exceeds guidelines, severance can include a bonus and accelerated vesting is possible. The quantum exceeds guidelines. Recruitment awards were paid to the newly appointed CEO and CFO.  We recommend shareholders oppose.

 Item 12: To change the name of the Company to Flutter Entertainment plc

The Company is seeking shareholder approval to change its name to mFlutter Entertainment plcnThe Directors state that the reason to change the name is to have a name that reflects the full business activities of the Company rather than just a particular brand. As no adverse effects on shareholders have been identified, we recommend shareholders vote in favor.

Flutter Entertainment

Paddy Power Betfair is a sports betting and gaming operator. Co. operates four sports betting and gaming brands: Paddy Power, Betfair, Sportsbet, and TVG. In addition, Co. operates across four operating divisions: Online, which is an online sports betting operator in the U.K. and Ireland; Australian, which is known as Sportsbet and is focused on sports betting, with products and marketing around national sports events; Retail, which operates Paddy Power betting shops across the U.K. and Ireland; and U.S., which consists of TVG, a horseracing TV channel and online pari-mutuel wagering operator active in over 30 states, and Betfair, an online casino and horse-racing Exchange in New Jersey.


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