William Hill backs insider for its top job

WILLIAM Hill has picked an insider to succeed Ralph Topping who stands down as chief executive at the end of this month after 44 years with the bookmaker. James Henderson – who has been with the company for 29 years after starting as a trainee at a betting shop in Shepherd’s Bush – will take the helm next month on £550,000 a year plus bonuses. Chai r man Gareth Davi s described Henderson as a ‘natural bookie’ and said he was ‘head and shoulders’ above the 15 external candidates interviewed.

‘His breadth of knowledge spans the whole group,’ Davis said.

Shares rose 4.6p to 341p on news of the appointment.

Davis thanked Topping for his ‘ exceptional contribution and achievements’ at William Hill.

Topping will be paid a year’s salary of £650,000 as well as pension contributions for 12 months. He holds shares worth around £950,000 and also has long-term share options worth some £4.8m related to performance.

Topping, who describes himself as a ‘one company man’, has overseen a period of rapid growth at William Hill, which this year celebrates its 80th anniversary.

But he leaves with the industry under r pressure from regulat regulators and politicians amid concerns about excessive TV advertising, the number of betting shops in the UK, and fixed- odds betting terminals, which have been dubbed the ‘crack cocaine’ of gambling.

Henderson – currently group operations director in charge of UK retail, online and William Hill’s businesses in the United States and Australia – acknowledged that the industry faces challenges.

He said the last bet he made was a £100 wager at 4-1 on the Netherlands to beat Spain in the World Cup – winning him £400.