March 26 (Reuters) - Bookmaker William Hill said on
Thursday its incoming finance chief, who was supposed to join
from cardboard maker DS Smith, has decided to stay on
in his current role because of ongoing market uncertainty around
the coronavirus crisis.
William Hill announced earlier in February that Adrian
Marsh, Finance Director at DS Smith, would join the company
later in the year and help steer it through regulatory hurdles
in its home market.
"A few months ago it seemed like a good time to move on to a
new challenge. However, these are very strange times and my
loyalties are to my colleagues and stakeholders in DS Smith,"
Marsh told Reuters.
Ruth Prior, who is currently serving her notice period at
William Hill and was also set to make a move to the private
equity sector by joining Element Materials Technology, will
continue in the CFO role.
Multiple gambling companies, including William Hill, have
warned of a big hit to earnings because of unprecedented
cancellations of global sports events caused by the coronavirus,
hammering shares across the sector.
Bookmakers were already under pressure from rising taxes in
major markets and a crackdown in Britain which includes limits
on the size of stakes on gaming machines in betting shops,
pushing them to venture into the U.S. market where rules have
been relaxed.
(Reporting by Indranil Sarkar in Bengaluru; Editing by Bernard
Orr)
