Author: Joe Kizlauskas
Last Updated: 3rd November 2020
Ruth Prior, Chief Financial Officer of William Hill, announced that she would step down as CFO and Company Manager to return to the private equity market, where she would join Element Materials Technology as her new CFO.
Prior joined William Hill as Board member and Group Executive Team member in 2017. She was praised for her role in developing and implementing the Company’s strategy and guiding many restructuring programmes, as well as being in charge of Group Assurance and Procurement functions.
Prior said of her departure: “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.”
In the coming months, the prior’s departure date will be determined, with the William Hill Board starting to look for a replacement.
Ulrik Bengtsson, CEO at William Hill commented: “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.”
The bookmaker has also reported that growth in its online division has been due to William Hill’s 2019 full-year results beating forecasts, with the retailer reporting that their profits are’ ahead of market and management expectations.’
Announced in a trading update for the 52 weeks ending December 31, 2019, the bookmaker announced that analysts forecast their full-year adjusted profits ranging from £143 million to £148 million, while their US company is expected to break even.
Bengtsson also added: “The Group has delivered a strong operating performance, ahead of our expectations and against a challenging regulatory backdrop. We made good progress on a number of fronts, including our Retail business, Online and in the US, enabling us to deliver on our long term strategic ambitions.
“We look forward to building on these efforts in 2020 with a strong focus on customer, team and execution.”
For the third consecutive quarter, the expected growth was driven largely by favourable sporting results in December, helped by a rise in the online division of the operator.
The statement added: “During the year the Group made good progress towards delivering its long term ambition to become a digitally led and internationally diversified business of scale while continuing to embed a culture of responsible gambling.”