It has been confirmed that William Hill’s CEO Philip Bowcock will step down on 30th September.
Bowcock will also step down as a company director, with the company explaining the change was part of its strategy to become a digitally-led and internationally diverse gambling operator.
William Hill’s Chief Digital Officer, Ulrik Bengtsson, will replace Bowcock as CEO and has also been appointed as a company director.
Bowcock, who was formerly President and CEO of Betsson AB, only became William Hill’s CEO in April 2018, and his tenure has witnessed some challenging times for the company, with disappointing financial results and the impending closure of a third of its retail betting shops.
The company blamed the introduction of massively reduced Fixed Odds Betting Terminal limits, weak sports results and increased customer due diligence for the poor results, while its share price plunged from £2.60 in September 2018 to a low of £1.30 in June 2019.
Commenting on the news, Chairman of William Hill, Roger Devlin, said:
“The board is pleased to appoint Bengtsson to the role. Having overseen the group’s digital operations for 18 months, he knows the business well and is ideally suited to lead our next phase of growth.
“Bengtsson has deep understanding in digital and has the international and sector experience we need to deliver on our strategy.”