Ralph Topping has been named as the new Chief Executive of William Hill with immediate effect. “Our industry is facing significant change and new challenges, not least the challenges that come from new regulation. There are also major opportunities for William Hill as we rapidly develop our online businesses and continue to build on the success of our UK operations,” Topping said.
“The Board has undertaken an extremely thorough search process over recent months. We have tested the market place in considerable detail. I am delighted that we have reached the view that in Ralph, who brings more than 35 years of industry experience to the role, we have a first class appointment. We will also benefit from his deep knowledge of the William Hill business,” commented Charles Scott, Chairman of William Hill.
In related news, Investec said in a note to its customers that Ladbrokes (sell, 260p) remains under pressure in UK retail while William Hill (hold, 395p) continues to struggle online. The financial firm retained a buy rating on Irish bookmaker Paddy Power with a 30 euros target price. Meanwhile, This is Money reported that Rank is close to sell of its £700m pension scheme to Goldman Sachs.
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