LONDON (dpa-AFX) - William Hill Plc (WMH.L) announced that its Board has secured the services of Ralph Topping as chief executive at least until December 31, 2013.
Topping was appointed chief executive in February 2008 and has worked for William Hill for 40 years in a variety of operational and leadership roles.
As part of the agreement to secure Topping's services as chief executive, the Board of William Hill has agreed to a number of changes to his remuneration package for 2011, 2012 and 2013. With effect from January 1, 2011, Topping's salary will be 600 thousand pounds and subject to his continued contribution, base pay may progress to levels around the upper quartile of the market over time.
William Hill noted that Topping's on-target bonus opportunity will reduce from 90 percent to 80 percent of salary and maximum awards under the Performance Share Plan will reduce from 150 percent to 100 percent of salary. A special, one-off retention award of 552,995 William Hill shares at 217 pence per share has been made to Topping, which will vest on December 31, 2013 subject to continued employment, the company added
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