British online and land-based gaming giant, William Hill has announced that Philip Bowcock (pictured) will be stepping down as its Chief Executive Officer at the end of the month to be replaced by Ulrik Bengtsson.
The London-listed operator used an official Thursday press release to declare that the change is all part of its strategy to become ‘a digitally-led and internationally diverse gambling company’ with Bengtsson set to receive the same annual salary as his predecessor at £600,000 ($740,660) alongside a range of benefits, bonuses and long-term share options.
William Hill explained that Bowcock joined its ranks in November of 2015 to serve as its Chief Financial Officer before being named as its Interim Chief Executive Officer some eight months later following the departure of James Henderson. It detailed that the executive had his title’s provisional designation removed in March of 2017 and is to stay on as an advisor until the end of the year ‘in order to assist with the transition.’
Bowcock used the press release to state that he had ‘thoroughly enjoyed’ his time with Hill and believes that the firm ‘is now well placed to take advantage of the opportunities presented in the United States market as well as continued growth in digital.’
“It has been an intense period with the industry and business experiencing significant structural and regulatory change. Having recruited and worked with Ulrik for the last year and a half, I am confident he will take advantage of the opportunities ahead and we will see William Hill go from strength to strength.”
For his part, Bengtsson was hired to serve as Hill’s Chief Digital Officer in April of 2018 after a successful spell leading Swedish online gambling firm Betsson AB. The executive proclaimed that he is ‘delighted to be taking on the Chief Executive Officer role’ and is now looking ‘forward to working with the team to deliver our strategy.’
“We have a great opportunity to build William Hill as a digital and international business by driving online growth in the United Kingdom and internationally, growing a scale United States business, remodeling retail and delivering our ‘Nobody Harmed’ ambition.”