The internationally
renowned bookmaker, online sportsbook, poker room and casino, William Hill, will
be looking for a new Chief Executive Officer during recent days ahead. The
company's current CEO, David Harding, has just announced that he will be leaving
the bookmaker at the end of 2007, which although was an abrupt announcement,
should not come as a total surprise. When one stops to think about Harding's
enormously successful track record at
William
Hill, it fits the man well to move toward a new horizon.
This is precisely what
Harding says he is going to do. When addressing the London Stock Exchange,
Harding said "it was time to move on" and that he is ready for "a new
challenge". Harding joined William Hill as its CEO seven years ago. Shortly
after he signed on, Harding led the company's massive flotation on the London
Stock Exchange, and has since helped the William Hill's share price climb to
over twice its original value. Speaking of stock values, upon hearing the news
that Harding would step down, Will Hill's shares dropped 3.5 pence to settle at
604.5 pence.
William Hill's total
value is currently at a massive £2.13 Billion. The company said in a recent
trading statement they are comfortable with their financial assessment for 2007.
As little as three months ago, the company said it is expecting to see earnings
from all ventures, including their online casino and poker room, come in at just
under £300 million (before interest and taxes).
Whoever the next Chief
at William Hill turns out to be, one thing is certain - It will be tough for
them to drum up the outspokenness and sometimes controversial air that Harding
had about him. Harding's last "closer", if you will, was his comment that the
newly emerging Turf TV would be damaging to the gambling industry, both online
and offline. Perhaps William Hill does not want controversy. Perhaps it is
indeed better that Harding is moving on.