Betting shop William Hill has fired its chief executive James Henderson after two years in the position.
Henderson, who was promoted in 2014 after Ralph Topping retired, was let go after the board said he was failing to deliver enough growth in online and international gambling.
The previous operations director received £914,417 ($2.1m) in salary and benefits in 2015 and will receive a 12 months notice with no bonus for 2016. Speaking with Reuters, Gareth Davis, William Hill's chairman, said: “At a time of increasing consolidation and competition as well as regulatory impacts in our core market, it is key that the delivery of this strategy is accelerated and the board believe this is best led by a new CEO.”
He continued: “There remain significant challenges and in the recent past online has not performed in line with our high expectations as a company at the forefront of the market.”
Shares in William Hill fell to a four-year low this year of 235.5 pence the day after Britain voted for Brexit. The shares have since risen 5.3 per cent.
Phillip Bowcock, who was appointed chief financial officer in November, has been appointed as interim chief executive while the company look for a replacement. Davis said: “Philip has a clear set of priorities for this transition period, principally the turnaround of the offline business.”
Henderson’s departure was made effective immediately.