Monday, June 25, 2007

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William Hill CEO leaves bookmaker

Harding has spent seven years at the helm of the British firm.

By Erin Warner

After seven years as top brass for Britain's premier bookmaker, CEO David Harding is leaving William Hill.

Harding will stay with the company until the end of 2007 to entertain other offers and spend time with his young son, U.K. newspaper The Guardian reports.

The decision has been met with disappointment from the firm, which operates online casino and sportsbetting sites, as well as William Hill Poker.

"The board accepted his decision to step down with regret and will continue to work closely with him during the transition phase," group chairman Charles Scott told The Guardian.

William Hill, by all accounts, is in good health as it searches for Harding's successor. Analysts are saying that it is a well-run company, and that it has outperformed rival Ladbrokes on shop profitability after bringing gambling machines to its outlets.

One analyst predicted the firm's future CEO could come from outside the gambling industry.

Harding, 51, has been so closely tied to the company, when he cashed in nearly all his stock options in 2004, William Hill's share price took a dive. Under his guidance, the company became Britian's largest bookmaker in 2005 when it acquired Stanley Leisure for £505m.

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