888 Holdings has moved to defend its decision to put non-executive chairman Brian Mattingley up for re-election following a shareholder backlash.

The group stated that it had held discussions with major shareholders over their concerns after more than a fifth voted against Mattingley’s re-election. The primary reason for the opposition, 888 said was Mattingley’s length of tenure. He joined the board in August 2005 and has since served CEO, non-executive director, executive chairman and non-executive chairman.

888 stated: “The board's decision to retain Mr Mattingley as its non-executive chairman reflects the significant value he brings to the board, including in particular his wealth of gambling industry and public company experience, deep knowledge of the business and industry contacts.

“The board believes Mr Mattingley's continued tenure as non-executive chairman benefits all shareholders.

“The board recognises the importance of future succession planning and was recently strengthened through the appointment of Mr Mark Summerfield as a non-executive director and chairman of 888's audit committee on September 5, 2019.

“The company continues to look at potential additional non-executive director appointments to the board and will seek to provide a further update on this matter by its next annual general meeting in May, 2020.

“Any future board appointments will reflect 888's strong diversity and leadership objectives, whilst complementing and building upon the existing expertise of the board.”