William Hill resume search for new financial chief as potential suitor backs out

William Hill have been forced into restarting the search for a chief financial officer (CFO) after Adrian Marsh informed the bookmaker he would not be taking up the role.

Marsh had been due to leave his post of group finance director at packaging firm DS Smith to join Hills having been secured to replace Ruth Prior, who was revealed in January to be exiting the company.

However, the bookmaker announced on Thursday that Marsh would be remaining in his role with DS Smith as a result of the coronavirus pandemic, with Prior continuing to operate as CFO while working her notice period.

In a statement to the London Stock Exchange, William Hill said: "William Hill confirms that Adrian Marsh has informed the company that, given the current unprecedented circumstances, he intends to remain [at] DS Smith and will not now be joining William Hill.

"Ruth Prior, who is serving out her notice period, will continue in her role as William Hill's chief financial officer. The company has immediately recommenced the search for a new CFO."

Hills shares update

Shares in William Hill have been badly hit since the outbreak of Covid-19, which has all but halted sporting events across the globe and resulted in the temporary closure of betting shops in Britain as part of social-distancing measures to slow the spread of the virus.

From a high of 196p on February 12, shares plunged to as low as 36.7p last Thursday, but they have since rallied to 70p at the close of trading on Thursday.

Roger Devlin, William Hill chairman, said: "While 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."

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