Topping To Stay At William Hill Until 2015

Ralph Topping will remain in charge of Britain’s biggest bookmaker until the end of next year, the company said yesterday. The firm issued a statement clarifying its position on Topping’s replacement, after reports in the media suggested that it had accelerated its original plan (William Hill share price: Ralph Topping to retire sooner than expected).

William Hill said in a statement that it has an ongoing process to identify Topping successor and that it is looking at both internal and external candidates to fill the position.

An unnamed source cited in a recent report by The Times said that William Hill had hired the headhunting agency Zygos to search for its next CEO as it planned to replace its current boss Topping a year earlier than expected. The source said that the bookmaker is hoping to find a successor within the next three to four months.

But it turns out that the firm is still committed to its original time table, as confirmed in yesterday’s statement. “Ralph Topping has previously indicated his intention to retire by the end of 2015. The Board has an ongoing process to identify his successor from among both internal and external candidates,” the statement said. “The Board prudently instigated this process two years ahead of Ralph’s backstop date to give plenty of time to identify the right candidate, allowing for their potentially lengthy notice period, and to ensure a smooth transition.”