William Hill Sack CEO James Henderson After Poor Online Performance
Back in 2014 William Hill fired their long standing Chief Executive Ralph Topping and hired Operations Director James Henderson in what was considered a controversial move then.
After only two tears at been at the helm, Henderson has received the boot due mainly to William Hill’s poor growth in the online market. It is no secret that all the top UK bookmakers have had their hands full to grow as they have face higher taxation and increased regulation. William Hill have fallen behind their competitors who seems to have made a lot more progress in attracting the younger audience via mobile apps.
In a statement William Hill Chairman Gareth Davis did not deny the fact that Henderson had been fired with immediate effect and said,” There remain significant challenges and in the recent past online has not performed in line with our high expectations as a company at the forefront of the market,”
Davis went on to thank Henderson and said,” James’s career with William Hill has spanned over 30 years covering the Retail, Online and international businesses. We would like to thank him for his significant contribution and we wish him all the best for the future.”
Henderson will not have to worry about losing out on his contract as he will receive 12 months notice as per agreed in his contract which will mean around $1.21 million. The news was received well by the markets who gave William Hill’s share price a hammering after the Brexit vote on June 24. Thursday saw trading up by 5.3 percent at 290 pence. CFO Philip Bowcock has been appointed interim CEO until a full time replacement can be found.