william hill leadership forgoes 2020 incentives to protect retail workforceby Joker 08.04.2020 0 comments
Ulrik Bengtsson Group Chief Executive of William Hill Plc has agreed to relinquish his executive performance rewards and entitlements for 2020, in light of ongoing COVID-19 impacts on the business and its global workforce.
William Hill confirmed Bengtsson’s decision publishing the FTSE250 betting group’s ‘2020 Executive Remuneration’ report this afternoon.
Countering COVID-19 disruptions across its business channels, William Hill governance states that its focus remains on ‘protecting key stakeholders – employees, suppliers, customers and shareholders’.
Recognising hardships, William Hill confirms that all retail employees who have been furloughed following shop closures will receive full pay ‘for the time being’.
Protecting company payroll, William Hill’s executive leadership team and senior management forgo bonuses packages and pay increases for 2020.
“Ulrik Bengtsson has decided that he should not accept the 2020 Performance Share Plan award made to him on 9 March 2020, and that award will, accordingly, lapse. No other 2020 PSP awards will be made to senior executives at William Hill, including our new CFO, Matt Ashley” – William Hill governance details in its statement.
The FTSE bookmaker confirms that it will maintain salary increases for non-executive employees in-line with national minimum wage adjustments.
Further remuneration commitments, see William Hill lower executive maximum pension contributions from 20% of salary to a 5% base, which will be attributed across its general workforce.