Ex-Imperial Chief Davis Named William Hill Chairman

Source from:  Share Cast 07/29/2010

LONDON (SHARECAST) - Gareth Davis, who recently retired from Imperial Tobacco after 14 years as chief executive, has been chosen to take over as chairman at bookmaker William Hill on September 1. Bolton-born Davis replaces Charles Scott whose decision to stand down was announced in January. He抯 served on the board since before the bookie floated in 2002 and as chairman for the last six years. Most of the new man抯 working life has been spent with tobacco giant Imperial, joining the company in 1972 as a management trainee before working his way up to the top job in 1996. He then led the business through the demerger from Hanson and subsequent listings in London and New York. Hill's share price has tumbled more than 20% since April as success at the online business is offset by tough times on the betting shop side. Despite a World Cup windfall, Hill had its worst ever Ascot. KBC Peel Hunt thinks there remains an air of suspicion towards the traditional bookmakers that is reflected in the share price, which trades at about a 20% discount to its historical price earnings ratio. Enditem