William Hill PLC, UK-based gambling operator has just announced that its CEO, Mr. James Henderson, will be resigning from the company. Henderson has occupied the position of CEO for the past two years and is now stepping down with immediate effect. Until a permanent replacement can be found, William Hill’s CFO, Philip Bowcock, will be standing in as Interim CEO.
Henderson praised by William Hill Director
The Chairman of William Hill, Gareth Davis, has come out and thanked Henderson for his service and contributions to the company over the years; He also said that Bowcock has a clear vision for his time as Interim CEO, which will focus on the company’s struggling online business.
Henderson took on the role as CEO back in July 2014 and has faced some serious hardship during his time as CEO. While he may have been CEO of William Hill for only two years, he has been with the company for over three decades and has considerable experience in all divisions.
Ladbrokes-Coral dethrones William Hill
As it stands right now, the company has been the largest Sports betting chain in the UK. However, with the merger between Ladbrokes and Coral set to be closed any time now, this is a title that William Hill will lose. There have also been several other mergers that will create very stiff competition for the company.
William Hill also announced in March that the start of 2016 did not go as well as the firm had hoped, leading to an operating profit warning being issues. In total, revenue expectations fell short by £15 million. This was due to the worst ever Chelten Festival ever for William Hill and poor performance online. On top of this, it released a statement saying that several high-value online players had drastically altered their behaviour and were gambling a lot less. This all came together to create a difficult start to the year and no doubt contributed to the resignation of the CEO.
