By Iqbal Johal
William Hill has announced incoming CFO Adrian Marsh will not be joining the operator after deciding to stay at DS Smith, due to the unprecedented circumstances of the coronavirus outbreak.
Marsh was appointed CFO last month, replacing Ruth Prior, but has withdrawn from the process to stay on in his role as Group Finance Director at packaging company DS Smith.
Prior, who is currently serving her notice period after announcing her intention to step down in January, will continue as CFO until a replacement is found, with William Hill stating it has immediately recommenced its search.
William Hill Chairman Roger Devlin said: “While we note the reasons for Adrian’s decision, William Hill is focused on taking the necessary steps required in these unprecedented times to protect the interests of its stakeholders. We will provide an update in due course.”
The coronavirus is proving to be a difficult period for William Hill, which earlier this month said the impact of the virus is expected to reduce group EBITDA by £100m ($118.8m) to £110m for the year.
The reduction is due to all major sport being suspended or postponed, with sports betting generating 53% of group revenue last year. The operator has also suspended its dividend until further notice.