Betting group loses new finance chief before he starts

FTSE 250 betting and gaming group William Hill is hunting for a new finance chief after Adrian Marsh, group finance director of packaging group DS Smith, said he would now be staying at DS Smith’s rather than join William Hill due to covid-19 crisis

Marsh, who had resigned from FTSE 100 listed DS Smith in February this year, will be staying on at the packaging group ‘to provide continuity and stability at this very important time’.

In the meantime, Ruth Prior, who is currently serving out her notice period, will continue as William Hill’s CFO while the company begins the search for a new CFO. Prior, who has been with the betting group since October 2017, had resigned in January this year to return to the private equity sector as CFO at Element Materials Technology.

Roger Devlin, William Hill’s chairman, said: ‘Whilst we note the reasons for Adrian’s decision, William Hill is focused on taking the necessary steps required in these unprecedented times to protect the interests of its stakeholders. We will provide an update in due course.’

Miles Roberts, DS Smith’s group chief executive, said: ‘We are pleased that Adrian will be remaining with DS Smith, providing continuity and stability in this very important time.’

William Hill suspended its dividend on 16 March after the betting group had been hit by the wholesale cancellation of sporting events. Ulrik Bengtsson, William Hill’s CEO, said: ‘We are taking action to maintain our operational capability, to secure and enhance our liquidity and to ensure we are in a strong position to resume full operations when the sporting calendar returns to normal.’

5
Average: 5 (1 vote)
Subscribe