Joe Lewis stalwart Richard McGuire joins Alphameric plc board
Richard McGuire, a lieutenant for millionaire tycoon and egaming investor Joe Lewis, is to join the board of Alphameric plc as a non-executive director.
JOE LEWIS lieutenant Richard McGuire is to join the board of Alphameric plc as a non-executive director.
Lewis, a tycoon whose fortune is estimated at £2,700m and includes interests in Ladbrokes, Probability and Betdaq, is Alphameric’s biggest single shareholder, his Mayfair Capital investment vehicle owning 67.6 million shares in the company representing nearly 30% of voting rights.
McGuire is president of Lewis’ Tavistock Europe investment fund, and has also served as a non-executive director of pub group Mitchells & Butlers, in which Lewis also has a stake of nearly 30%.
He is also chairman of a delisted company Bulgarian Property Developments, and was formerly a managing director in investment banking at Citigroup and held prior roles at HSBC, Martin Currie and Baillie Gifford.
His appointment is made under a relationship between Alphameric and Mayfair under which Mayfair may appoint one non-executive director when its voting interest in Alphameric is 20% or more, and will become effective following completion of Alphameric’s disposal of Alphameric Solutions Limited to Orbis, which is expected to occur on 31 May.
Alpahmeric plc chief executive Alan Morcombe stepped down from his role on 28 February despite having earlier survived an attempt by Mayfair Capital to oust him from the board.
On 9 February 2010 the board announced its intention to appoint an additional independent, non-executive director, and said in a statement today that “the process for this appointment is progressing well.”
For more on Joe Lewis and other angel investors in egaming, see the eGaming Rat Pack feature in the May issue of eGaming Review.