‘Abandon pay cap ideas’ says gambling chief

Top talent from all industries in the UK will be lost if there is a pay cap, says gambling boss Barry Gibson.

Gibson, chairman of Entain, the Ladbrokes, Coral and Bwin owner, is reacting to reports of pressure form investors to cap executive pay, brought about by shareholder advisory companies.

They have the right intention, says Gibson, but often the wrong outcome. “In a post-Brexit world there is vast potential for ‘Global Britain’ to thrive on the international business stage. If we are to enable publicly quoted British companies to achieve their full potential, then they have to be able to compete with their international peers.”

Gibson added: “It simply doesn’t make sense to impose the same remuneration regime on a large and complex international business as on a domestic utility company operating in a monopoly environment.”