The Board of William Hill PLC (LSE: WMH) today announces that Ruth Prior, Chief Financial Officer (CFO), has informed the Board of her intention to step down as CFO and as a Director of the Company to return to the private equity sector, joining Element Materials Technology, as CFO.
The Board has commenced a search to identify a successor. Ruth’s contract requires her to give 12 months’ notice period and her departure date will be determined in due course.
Ruth joined William Hill on 2 October 2017 as a member of the Board and Group Executive team, playing a key part in developing and delivering the strategy of the Company and driving several transformation initiatives, as well as having responsibility for Group Assurance and Procurement functions.
Ulrik Bengtsson, Chief Executive Officer, William Hill, said: "I am very appreciative of Ruth’s support and professionalism since I took on the role as CEO. She has supported the business during what has been a period of unprecedented change for the sector and we would like to thank her for all she has done for William Hill".
Ruth Prior said: "I have enjoyed my time at William Hill and believe that the Company is in a strong position to take advantage of many opportunities ahead and deliver improved business and financial performance. I wish the business every success in the future".
Balbir Kelly-Bisla
Company Secretary
13 January 2020
Notes:
Remuneration
As Ruth Prior has resigned from the Board she will not receive any severance payment when she leaves the Company.
It is anticipated that Ruth will continue to receive her base salary, benefit and pension provision during her notice period albeit any payments will be subject to the normal duty of mitigation. Consistent with the Company’s remuneration policy and relevant share plan rules approved by shareholders, she will not receive any bonus for 2019 or the portion of 2020 for which she is employed by William Hill and unvested Performance Share Plan and Deferred Annual Bonus awards lapsed as a result of resignation. In addition, she will not be entitled to receive any further Performance Share Plan and Deferred Annual Bonus awards between now and when she leaves William Hill.
Enquiries
|
William Hill PLC |
Roger Devlin, Chairman Louise Turner-Smith, Director of IR Ciaran O’Brien, Director of Corporate Communications |
Tel: +44 (0) 20 7612 3000 |
|
Brunswick |
Andrew Porter / Ruan Tremayne |
Tel: +44 (0) 20 7404 5959 |
About William Hill PLC
William Hill PLC is one of the world's leading betting and gaming companies, employing c.12,300 people. Its origins are in the UK where it was founded in 1934, and where it is listed on the London Stock Exchange. The majority of its £1.6bn annual revenues are still derived from the UK, where it has a national presence of licensed betting offices and one of the leading online betting and gaming services. William Hill's European Online business is headquartered in Gibraltar and Malta, and is licensed online in 10 countries following the acquisition of Mr Green & Co AB in January 2019. In 2012, it established William Hill US with a focus on retail and mobile operations in Nevada and became the largest sports betting business in the US. Following the ruling in May 2018 by the Supreme Court that the federal ban on state sponsored sports betting was unconstitutional, William Hill US has expanded and continues to expand as new states regulate sports betting. It is now operating in nine states: Delaware, Indiana, Iowa, Mississippi, Nevada, New Mexico, New Jersey, Rhode Island and West Virginia in addition to Washington DC. Eldorado Resorts, Inc. currently owns shares representing 20% of the share capital of William Hill US Holdco, Inc., the holding company of William Hill US.
