William Hill’s upcoming CFO has chosen to withdraw from position amid the unprecedented circumstances surrounding this global pandemic, one that is causing everyone to re-evaluate their future. This announcement follows after Adrian Marsh was announced as the new CFO in February. He was slated to place Ruth Prior, which would’ve meant Adrian leaving his position as Group Finance Director with DS Smith. He’d continue to work for DS Smith moving forward, with it unknown if Adrian Marsh received a promotion for sticking with his current employer.
Ruth Prior will continue to serve as the William Hill Chief Financial Officer. Her position won’t be terminated until a new replacement is located, with the search has already begun throughout the European Union. It’ll be challenging to establish a new employee following the Covid-19 Pandemic, with an overwhelming majority not willing to uproot their life for a new career. It’s suspected these are the reasons why Adrian Marsh remained with DS Smith.
The William Hill Chairman noted that the company is understanding of Adrian Marsh’s decision but must take the immediate steps required to locate a new Chief Financial Officer. This follows after having to protect the interests of stakeholders, who are demanding updates on the Covid-19 situation and their respective workforce. It should be noted that Covid-19 has placed multiple challenges onto William Hill.
That included $118.8 Million in lost funds through the EBITDA Group, which is owned and operated by William Hill Group Ltd. This followed after a continued reduction in all sporting events globally, prompting the suspension or postponement of future trades and considering that the William Hill Sportsbook accounts of 53% of yearly revenue, the losses associated with Covid-19 are expected to be immense.
William Hill – US Division Assists Employees During Covid-19
The American Division of William Hill is handling the Covid-19 Pandemic considerably better than its European counterpart. 600+ employees have been guaranteed payment by their Chief Executive Office announcing that his paychecks will be terminated for 2020. That means the CEOs bonuses and annual income will go towards his employees. Joe Asher is the 1st CEO to risk his financial wellbeing for his workforce, which has been praised by numerous sources.