|One of the online gambling industry's highest profile and most well respected Chief Executives, David Harding, is to step down from William Hill at the end of the year.|
Harding has told the London Stock Exchange that he will be moving on after seven years with the UK bookmaking giant to seek new challenges and his departure follows that of Tom Singer, William Hillís Chief Operating Officer, in November. Singer was regarded as a potential successor to Harding but stepped down after a review of the company's key executive roles found that he was no longer required.
'Having spent seven years helping to build the company into the UK's leading bookmaker, the time is right to move on and I am looking forward to a new challenge,' Harding said.
William Hill has been active in the Spanish gambling market recently after partnering with local gaming group Codere, the owner of several bingo, horsetrack and related betting operations in Spain and South America.
Harding led the betting giant to flotation on the London Exchange in June of 2002 and stands to gain almost $14 million when he leaves, a figure that would bring his total compensation for the last two years to over $20 million. Since flotation, William Hillís share price has more than doubled and Harding holds $10.7 million worth of stock options.
Charles Scott, William Hillís Chairman, praised Hardingís contribution and stated that he was leaving the company in good health and added that the Board would continue to work closely with him during the transition to a new Chief Executive.