William Hill proprietor takes swipe at former CEO candidate Alexander because it picks new boss
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etting large 888 lastly appointed a brand new boss after a six-month wait at this time, however took a swipe at former candidate for the job Kenny Alexander within the course of.
The William Hill proprietor picked Per Widerström, who till final yr was CEO of Eastern European playing group Fortuna, to fill the void left by Itai Pazner. Pazner stop within the wake of an investigation into how 888 carried out cash laundering checks for Middle Eastern high-rollers.
While 888 hunted for a brand new boss, funding group FS Gaming constructed a stake within the business. FS Gaming is led by a gaggle of former Entain executives, together with ex-boss Kenny Alexander, who they hoped to see change Pazner. Alexander was ousted from Entain, which was then generally known as GVC, amid an HMRC investigation right into a Turkish enterprise that Alexander reportedly nonetheless had hyperlinks to.
However, these plans fell aside when the Gambling Commission launched a assessment into the group, and left 888 with the conclusion it could lose its licence if Alexander was appointed. 888 stated it ended talks with FS over the CEO place due to the watchdog’s assessment.
In asserting Widerström as the brand new boss, 888 CEO Lord Mendelsohn appeared to take a shot at Alexander’s previous controversies, highlighting Widerström’s cleaner report.
“Per not only understands the power and exciting potential of the business, but the board is also very pleased with his strong record and reputation on governance and compliance,” he stated.
Widerström stated: “It is incredibly exciting to be joining at such a key moment in the Group’s long-term development. 888 has a clear and attractive opportunity ahead of it and I am very much looking forward to getting started and working with the rest of the team to build on the strong progress already made and achieve the group’s full and very exciting potential.”
Investec analyst Roberta Ciccaccia stated Widerström was precisely the best sort of boss for 888.
She stated: “The new CEO seems to fit the profile of what 888 needs at this stage, that is, a strong leader with sector expertise and specifically a track record in regulated, omni-channel businesses. We see this as a positive step, that can hopefully lead to delivering on 888’s plans.”