William Hill halts 2020 bonus scheme in cost-saving measures
As a result of the impact of COVID-19, William Hill has announced it will withdraw its 2020 bonus scheme for executives and grant a 100% salary furlough for its retail workers in a series of cost-saving measures.
The furlough will be representative of 100% of workers’ salaries and has been introduced “for the time being,” with William Hill acknowledging the importance of the income for retail workers and their families.
The operator has made three key decisions in regards to executive remuneration.
Ulrik Bengtsson, William Hill CEO, will not accept his 2020 Performance Share Plan award, which will accordingly lapse. No other awards will be made to senior executives.
There will also be no salary increases for senior executives during 2020, including Bengtsson.
Finally, the operator’s 2020 bonus scheme has been withdrawn for Executive Directors, the wider executive team and senior employees.
In regards to Matt Ashley’s recent appointment as CFO, the operator is confident it has “protected shareholders’ interests appropriately by not overpaying for the appointment.”
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