UK-listed bookmakers William Hill have confirmed acting CEO Philip Bowcock as the company’s new permanent chief executive.
On Friday, Hills belatedly confirmed that it was formally appointing Bowcock (pictured) as the company’s permanent CEO, nine months since he assumed the interim CEO role following James Henderson’s abrupt resignation/sacking just two years after Henderson had taken over from Ralph Topping.
Hills was expected to announce Bowcock’s appointment during last month’s release of the company’s 2016 financial results, but, given the one-fifth decline in online operating profit contained in that report, the company may not have wanted to unfairly taint the official beginning of Bowcock’s tenure with the whiff of failure.
In a statement posted to Hills’ website, chairman Gareth Davis credited Bowcock with having “driven the business forward at real pace and we have seen important progress across our online, retail and international businesses over that time.” Davis claimed the 2016 numbers showed that the company was now in “a strong position and Phillip has outlined a clear plan to continue that momentum into the future.”
Bowcock logrolled right back, saying he headed a “passionate, talented and committed team and we have made considerable operational progress in recent months.” Bowcock vowed to “keep improving our position in all our key markets whilst delivering a great experience for our customers.”
Bowcock joined Hills in November 2015 as chief financial officer, after serving as finance director for leading European cinema operator Cineworld Group, which could explain his penchant for using unnecessarily theatrical words like “whilst” in discussing the betting business.
Bowcock’s annual pay packet will rise by £50k to £600k as a result of his promotion. Hills is now on the hunt for a permanent CFO replacement as well as a new chairman, as Davis announced last month that he plans to retire from Hills’ board next year.
