SBC News Flutter reorganises board duties as AGM accelerates NYSE migration

Flutter reorganises board duties as AGM accelerates NYSE migration

The board of Flutter Entertainment Plc has reorganised corporate governance roles and duties following the annual general meeting (AGM) of the joint-listed FTSE and NYSE gambling group.

Votes cast at the AGM on 1 May saw all corporate directors re-elected under the leadership of John Bryant as Executive Chairman.

As previously announced, the AGM saw Richard Flint, the former CEO of Sky Bet, and long-term non-executive director (NED) David Lazzarato retire from all corporate duties. Both incumbents had previously announced that they would not seek re-election on Flutter’s board at the upcoming AGM.

The AGM saw Flutter announce changes to its corporate governance duties as David Lazzarato has been replaced by Nancy Cruickshank as Chair of the Risk and Sustainability Committee. A corporate NED since 2019, Cruickshank further replaces Lazzarato as a member of Flutter’s Audit Committee.

Further changes include Flutter assigning Nancy Dubuc as a member of the Risk and Sustainability Committee, while she resigned from her duties on the Nominations and Corporate Governance Committee.

Yesterday’s AGM saw shareholders approve the board’s recommendation to accelerate the firm’s primary stock listing from the London Stock Exchange (LSE) to NYSE by the end of May. The board of Flutter had previously detailed that the NYSE migration would be concluded by the end of 2024 trading

As previously declared, Flutter’s relocation of its primary listing to New York is needed to secure access to deeper US capital markets, a higher valuation for its global enterprise, and to attract top executive talent with US rewards.

Group CEO, Peter Jackson sees the NYSE as a natural move for Flutter as “We now anticipate that we will shift our prime listing to the New York Stock Exchange by the end of the month.”

Flutter’s stateside migration is viewed as a further loss for the LSE, as 2024 has seen UK PLCs, including pharmaceutical company Indivior Group and global building materials supplier CRH Dublin, move to New York.

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