01—Abstract
Summary
Summary of the 8-K filed July 1, 2024. Cited figures are marked; the original filing is the authoritative source.
Flutter Entertainment plc (NYSE: FLUT; LSE: FLTR) announced on July 1, 2024 that its Board of Directors has appointed Robert R.
Bennett ("Dob") and Christine M. McCarthy as non-executive directors, effective July 30, 2024. Mr. Bennett will join the Risk and Sustainability Committee and Ms. McCarthy will join the Audit Committee at that time.
The Board has determined that both are independent under New York Stock Exchange listing standards. Mr. Bennett, 66, is Managing Director of Hilltop Investments, LLC, a private investment company, and currently serves as a director of HP Inc. and Liberty Media. Ms. McCarthy, 69, was Senior Executive Vice President and Chief Financial Officer of The Walt Disney Company from 2015 until June 2023, and currently serves as a director of The Procter & Gamble Company, where she chairs the Audit Committee, and of FM Global.
Both will receive compensation consistent with the Company's fee schedule for Non-Executive Directors, as described in the Company's Form 10-K filed March 26, 2024. The filing states that neither has a family relationship with any executive officer or director, and neither is party to a transaction requiring disclosure under Item 404(a) of Regulation S-K.
The announcement was also released via the Regulatory News Service in London and furnished as Exhibit 99.1. Chair John Bryant stated that the appointees' experience and career backgrounds are highly relevant to the business.
02—Key points
Key Highlights
- Board expansion: Robert R. Bennett and Christine M. McCarthy appointed as non-executive directors, effective July 30, 2024
- Committee assignments: Bennett joins the Risk and Sustainability Committee; McCarthy joins the Audit Committee
- Independence: Board determined both directors are independent under NYSE listing standards
- McCarthy's background: former Senior Executive Vice President and CFO of The Walt Disney Company (2015 to June 2023), and current Chair of the Audit Committee at The Procter & Gamble Company
- Bennett's background: Managing Director of Hilltop Investments, LLC since 2005; current director of HP Inc. and Liberty Media
- Compensation: both receive fees consistent with the Company's non-executive director fee schedule, as described in the Form 10-K filed March 26, 2024
- No related-party or family relationships disclosed for either appointee
03—Questions
Frequently Asked Questions
When do the new directors take their seats?
Robert R. Bennett and Christine M. McCarthy are appointed effective July 30, 2024. Bennett will join the Risk and Sustainability Committee and McCarthy the Audit Committee at that time.
Are the new directors independent?
Yes. The Board has determined that both Mr. Bennett and Ms. McCarthy are independent directors in accordance with New York Stock Exchange listing standards.
What relevant experience do the appointees bring?
Ms. McCarthy was CFO of The Walt Disney Company from 2015 until June 2023 and previously served as Treasurer and in other senior roles there. Mr. Bennett has served as President and CEO and Principal Financial Officer of Liberty Media Corporation and as President of Discovery Holding Company. Chair John Bryant said their backgrounds are highly relevant to the business.
How will the directors be compensated?
They will receive compensation consistent with the Company's fee schedule for Non-Executive Directors. The filing refers readers to the Company's Form 10-K filed March 26, 2024 for the current schedule.
Do the appointments involve any related-party transactions or family ties?
The filing states that neither director has a family relationship with any executive officer or director of the Company or its affiliates, that there are no arrangements or understandings under which they were elected, and that neither is party to a transaction requiring disclosure under Item 404(a) of Regulation S-K.
04—Continue