William Hill CEO James Henderson has been ousted, paying the price for the U.K. bookmaker’s struggle to keep pace in the fast-moving world of online betting.
The Hill board made the decision to replace Henderson and has engaged an international search firm to find his successor, Chairman Gareth Davis told Bloomberg. Henderson’s immediate departure ends his more than 30-year career at the bookmaker.
William Hill launched a new web platform and mobile application last year, and ran into difficulties that led to a slowdown in betting growth. The company cut profit guidance in March after new rules made it easier for online gamblers to take a breather from their wagers.
“Online is such a huge bellwether and as market leader we have high expectations,” Davis said. “We have stalled abruptly and lost share significantly in the last year or so.”