EXPERIENCED leisure finance chief Philip Bowcock is to join William Hill as its CFO.
Bowcock will join the gambling business in November, replacing Neil Cooper who is leaving to head up finance with Barratt Developments.
When he worked at Cineworld, Bowcock steered the group through its integration of international player Cinema City, in a deal worth £500m. Cineworld also launched a £110m rights issue to help fund the acquisition.
Prior to his four years at Cineworld, he worked at Luminar Holdings alongside a new management team that failed in its bid to revive the ailing nightclub operator. Luminar entered administration and the trading part was sold on.
Bowcock also held roles at Hilton Group, Tesco and Barratt Developments.
The gambling industry is undergoing great change, with traditional shop-bound businesses expanding into the online and apps channels. It will face stiffer competition if the merger of Coral and Ladbrokes goes ahead.
“We are delighted to welcome Philip, whose extensive experience will be valuable as we continue to diversify and grow the business,” said James Henderson, William Hill CEO. “Philip has played a lead role in strategic and financial changes at his previous companies and will bring both a strong strategic insight and rigorous financial acumen.”
Bowcock said: “This is an exciting time to be joining William Hill with its strong digital and international strategies. I’m looking forward to working with James and the team, and contributing to William Hill’s continued success.”
His basic salary will be £420,000 per annum, and he will be eligible for an annual bonus of up to 150%.