Lee Feldman (businessman)
Lee Feldman | |
|---|---|
| Born | Lee Michael Feldman 1967 or 1968 (age 56–57)[1] |
| Nationality | American |
| Education | Columbia University (JD) |
| Occupation(s) | Lawyer and businessman |
| Title | Chairman, GVC Holdings Managing partner, Twin Lakes Capital Management, LLC |
Lee Michael Feldman (born 1967/1968) is an American lawyer and businessman. Feldman is the managing partner of the private equity firm, Twin Lakes Capital Management, LLC. and the former chairman of GVC Holdings, the FTSE 100 Index gambling conglomerate.
Education
[edit]Feldman earned a bachelor's degree and a juris doctor in law from Columbia University.[1][2]
Career
[edit]Feldman started his career as a corporate lawyer for O'Sullivan, Graev and Karabell.[1] He was a partner at Softbank Capital Partners. In December 2004, Feldman joined GVC Holdings and became the non-executive chairman in September 2008.[1]
Private equity firm
[edit]In 2007, Feldman co-founded the private equity firm, Twin Lakes Capital Management, LLC.[1][3] The private equity firm focuses on branded consumer products, media and business services. Twin Lakes Capital Management, LLC., purchased Mackenzie-Childs, Ltd., from Pleasant Rowland in 2008. Lee was appointed the Chief Executive Officer of Aurora Brands when his firm led the acquisition. Feldman served as CEO of Aurora Brands, a holding company with interest in manufacturing and distributing home furnishing products, from 2007 to 2014.[4] Aurora Brands is the owner of home decor and furnishing companies MacKenzie-Childs, Ltd., and Jay Strongwater.[5]
Earnings & departure at GVC Holdings
[edit]In 2017, Feldman and the CEO of GVC, Kenny Alexander earned a total of £26.9 million, and 44% of shareholders voted against the company's remuneration report.[6] In March 2019, Sky News reported that Feldman would leave the GVC Holdings on or before the company's "annual general meeting next year".[7][8][9] Feldman was overdue to leave under UK corporate governance code, which recommends chairs of listed companies not stay in position longer than nine years. The news of his departure came two weeks after Feldman sold £6m worth of his GVC shares; the CEO, Kenny Alexander, also sold shares worth £13.7m, which led to GVC Holding's share price falling nearly 18% in a single day.[10] Alexander and Feldman both sold 3 million GVC shares at a low price of 666 pence, seen by investors as a lack of confidence in the bookmaker.[11][10]
References
[edit]- ^ a b c d e "Executive Profile: Lee M. Feldman". Bloomberg LP. Retrieved 29 July 2018.[dead link]
- ^ "People - Reuters.com". U.S. Retrieved 30 July 2018.Archived 2017-10-09 at the Wayback Machine
- ^ "Principals". Twin Lakes Capital LLC. Retrieved February 6, 2024.[dead link]
- ^ "Aurora Brands, LLC". Aurora Brands, LLC. 2015-08-31. Archived from the original on 2015-08-31. Retrieved 2024-02-06.[failed verification]
- ^ Pasquarelli, Adrianne (19 April 2012). "No place like home". crainsnewyork.com. Retrieved 30 July 2018.
- ^ Gill, Oliver (6 June 2018). "Betting firm GVC hit by shareholder pay revolt". The Telegraph. Retrieved 30 July 2018 – via www.telegraph.co.uk.
- ^ Hancock, Alice (22 March 2019). "Betting group GVC seeks new chair after sell-off from current one". Financial Times. Retrieved 22 March 2019.
- ^ Kleinman, Mark (22 March 2019). "Ladbrokes chair to leave amid investor fury at share sale". Sky News.
- ^ Stradbrooke, Steven (22 March 2019). "GVC looking for new chairman as Lee Feldman plots exit". CalvinAyres.com.
- ^ a b "Ladbrokes-owner GVC Holdings' shares drop 18 pct after top bosses..." Reuters. 8 March 2019. Retrieved 22 March 2019.
- ^ "Feldman Departing GVC". GGB News. Retrieved 2024-02-16.