The Nomination Committee of MTG has concluded its process for 2020 and hereby amends its proposal for the AGM
STOCKHOLM, April 24th 2020 – Modern Times Group MTG AB (publ) (“MTG”) today announces that its Nomination Committee (Committee) has further progressed and concluded its Board nomination process and is therefore amending its proposal to the AGM. The Committee is proposing a second new Board member - Chris Carvalho - to be elected to MTG’s Board at the Annual General Meeting in May 2020 in addition to its earlier nomination of Marjorie Lao. The Committee aims to propose a third new Board member during the first half-year of 2020 to further expand the relevant skills and experience of the Board.
The amended proposal, motivated opinion and information about all persons proposed as members of the Board can be found on MTG’s website, www.mtg.com.
Chris Carvalho has a vast experience as an advisor and board member of several gaming and start-up companies including Roblox, Rogue Games, Gram Games, MTGx and PlayFab. Chris also spent four years between 2010-2013 as Chief Operating Officer at Kabam, a disruptive fast-growing free-to-play mobile gaming company, and ten years at Lucasfilm where he headed up business development, and ran the company's internet division, StarWars.com. Chris has also been a board member in G5 Entertainment, the worldwide developer and publisher of free-to-play mobile games listed on Nasdaq Stockholm.
Against this background, the Committee proposes that the board shall consist of six members and that the following persons are elected to the Board of MTG for a term of office until the end of the next Annual General Meeting: David Chance, Simon Duffy, Gerhard Florin, Natalie Tydeman, Marjorie Lao and Chris Carvalho.
The proposed addition of Chris Carvalho, who will also join the audit committee in place of Natalie Tydeman, will increase the total compensation of the Board from SEK 4.190.000 to SEK 4.690.000.
In anticipation of potential further changes to the Board next year, the Committee has also identified and attracted a 7th Board candidate, with complementary areas of expertise. Subject to formal approvals, which for practical reasons are unlikely to be obtained ahead of the AGM, the Committee aims to propose this candidate to the shareholders during the first half-year of 2020.
Joachim Spetz, Chairman of the Nomination Committee, commented: “The Nomination Committee is pleased to propose the election of Chris Carvalho as a new Board member. Chris brings vital insights into the intersection of entertainment and technology, and how businesses can grow in excess of their market. The company will also draw on his past experience and deep knowledge of the gaming sector.”
Joachim Spetz, continued: “The entire Nomination Committee has worked hard to develop the Board composition in order to oversee MTG’s management team in its execution of the outlined strategy. The Committee looks forward to proposing a further addition to the Board, and aims to present this additional candidate to the shareholders during the first half of 2020.”
The Nomination Committee comprises Joachim Spetz, appointed by Swedbank Robur Funds, Erik Durhan, appointed by Nordea Funds, David Marcus, appointed by Evermore Global Advisors, LLC and David Chance, the Chairman of the Board.
For more information:
Lars Torstensson, MTG - EVP Communications & Investor Relations
Direct: +46 (0) 70-273 48 79, lars.torstensson (at) mtg.com
Oliver Carrà, MTG – Director of Public Relations
Direct: +46 (0) 70-464 44 44, oliver.carra (at) mtg.com
Reach us: communications@mtg.com
Hi-resolution press images for media: Flickr
Follow us: mtg.com / Twitter / LinkedIn
***
About MTG AB
MTG (Modern Times Group MTG AB (publ.)) (www.mtg.com) is a strategic and operational investment holding company in esports and gaming entertainment. Born in Sweden, the shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).
Tags: