TORONTO, April 20, 2021 /PRNewswire/ – Shareholder Update:
On Monday, April 19th, without approval or consent from Mr. Neville, Mr. Troy Grant, Mr. Binyon Posen and Mr. Brendan Purdy formed a special “executive committee” (“the Committee”) inside of the board of directors, which would provide the three members of the board with additional powers. Mr. Neville has not resigned or provided any notification to the Company indicating his resignation.
This committee have claimed that Chris Neville has resigned from the company thus removing him as of Monday April 19th, 2021 as CEO. By way of background, on April 2nd, Mr. Troy Grant sent Mr. Neville a letter stating to either resign from the company or that Mr. Neville would be fired. Again, Mr. Neville has not offered his resignation; therefore the Committee has taken it upon themselves to govern the Company.
During this arduous time, Mr. Neville has uncovered several questionable corporate transactions. Mr. Neville has repeatedly asked the members of the Committee, and in particular, Mr. Grant for additional information. During the month of December 2020, Mr. Neville encountered some personal family issues, which allowed Mr. Grant to govern the Company in Mr. Neville’s absence. During this time, Mr. Grant authorised several transactions, which are highly questionable without the approval of the entire Board of IGT. These transactions appear to have personally benefitted Mr. Grant and his related parties and associates, with no regard for corporate governance or proper disclosures.
I will continue to work with the Canadian Securities Exchange, the Investment Industry Regulatory Organization of Canada (IIROC) and the British Columbia Securities Commission and my own personal counsel to resolve this matter. This does not preclude me from seeking civil action against the Committee and their associates. We continue to work on behalf of all our shareholders.
Chris Neville, MBA
Former CEO of IGT
SOURCE Chris A Neville