A Strategic Appointment Amid Challenges
888 Holdings has confirmed the appointment of Per Widerström as its new CEO, succeeding Itai Pazner. This strategic move comes at a time when the company faces challenges in penetrating the North American market and dealing with regulatory pressures in Europe. The announcement instigated a 5% surge in the company’s share price, reflecting the market’s positive reception.
Widerström is recognized for his robust track record in compliance and governance, making him the ideal candidate to navigate these challenges. His role will extend over brands such as 888, Mr Green, and notably, William Hill, which holds a considerable retail presence and recently settled its issues with the Gambling Commission.
A New Chapter for 888 Holdings
Relinquishing his current board positions at Casumo and Catena Media, Widerström will earn an annual salary of £676,000 at 888. He expressed enthusiasm about his new role, stating, “Following 888’s combination with William Hill, the group has a world-class portfolio of betting and gambling brands, an outstanding technology platform, and an exceptional team.”
Lord Mendehlson, Non-Executive Chair of 888, praised the new appointment, emphasizing Widerström’s proven ability to execute value-creation plans and his extensive industry expertise. He said, “Per not only understands the power and exciting potential of the business, but the Board is also very pleased with his strong record and reputation on governance and compliance.”
Widerström’s appointment signifies a new chapter for 888 Holdings as it seeks to navigate the complex landscape of online gambling, merging omnichannel strategies with stringent compliance measures.