June 26 - David Harding, the chief executive of leading UK-based bookmaker
William Hill has shocked the gambling world by announcing his resignation from
the multi-million pound company he helped float on the London Stock Exchange
(LSE) in 2002.
While Harding is expected to forfeit nearly ?5.5 million in share options by
leaving William Hill, he will still take home up to ?2.2 million in combined
salary, bonus and shares by the end of the year.
Regarding the news, William Hill chairman Charles Scott was lavish in his praise
for Harding's contribution in the growth and success of the gambling giant
that has also entered the highly lucrative online gambling arena.
Scott added that up until Harding's departure from the group, the board would
continue to support and work closely with him while at the same time seeking out
a new suitable chief executive to be at the helm of William Hill.
Said Harding to an interview with a British daily newspaper, 'I have seven years
helping to build William Hill into the leading bookmaker in the United Kingdom
and feel that now is the right time to move on and seek out new challenges.'
At the time of the announcement William Hill shares dropped by 5p to ends at
603p. Of late, William Hill has been active in Spain though a lucrative
partnership with Spanish gaming group Codere, owner of several gambling
operations in Spain and South America.
