On the heels of announcing their trading update, GVC Holdings have made big news by announcing the departure of CEO Kenneth Alexander. The operator made the announcement in a July 16 press release.

Alexander, 51 years old, is officially retiring from the organization to spend more time with his family. He spent 13 years in the role of CEO for the company. GVC noted that he will be succeeded by Shay Segev, Chief Operating Officer effective at the end of July 17.

“I have given 13 years to GVC and I now want to give some time to my family,” Alexander wrote. “I have enjoyed every minute of helping to grow GVC into the business that it is today, and am proud of all that has been achieved. We have the best people, brands and technology in our sector, and our joint venture in the US with MGM Resorts positions us very strongly for growth in that hugely exciting market.”

The isolation of COVID-19 helped influence his decision, and he relayed his confidence in Segev. “I have spent the last four months working from home and reflecting on my future plans, and this feels like the right moment,” he noted. “Whilst it is never easy to hand the baton on, it has been very clear for a number of years now that Shay is the right person to succeed me. He is an outstanding leader with a clear strategic vision and unrivalled technological expertise. As a shareholder, I know that our Company will be in good hands. He is also a firm advocate for the strongest possible protection for customers, and shares my philosophy that only a responsible company can be a sustainable and successful company.”