A chief executive officer ( CEO ), also known as a chief executive or managing director , is the top-ranking corporate executive charged with the management of an organization , usually a company or a nonprofit organization .
57-914: The Scottish Championship , known as the William Hill Championship for sponsorship reasons, is the second tier of the Scottish Professional Football League , the league competition for men's professional football clubs in Scotland . The Scottish Championship was established in July 2013, after the Scottish Professional Football League was formed by a merger of the Scottish Premier League and Scottish Football League . Teams receive three points for
114-426: A 29% stake in the new William Hill Online entity. The company wrote-off a reported £26m when scrapping its previous in-house system. In June 2009 William Hill backed Playtech despite its partner having a quarter of its stock market value wiped out following a profits warning. In 2013, William Hill paid £424 million ($ 643 million) for full control of its online business marking an accelerated expansion and resulted in
171-451: A different area of responsibility (e.g., VP of finance, VP of human resources). Examples of subordinate executive officers who typically report to the CEO include the chief operating officer (COO), chief financial officer (CFO), chief strategy officer (CSO), chief marketing officer (CMO) and chief business officer (CBO). The public relations -focused position of chief reputation officer
228-489: A distinction between management by the executive board and governance by the supervisory board. This allows for clear lines of authority. The aim is to prevent a conflict of interest and too much power being concentrated in the hands of one person. In the United States, the board of directors (elected by the shareholders ) is often equivalent to the supervisory board, while the executive board may often be known as
285-402: A facade of charm and eloquence. Traits such as courage and risk-taking, generally considered desirable, are often found alongside these psychopathic tendencies. Tara Swart, a neuroscientist at MIT Sloan School of Management , has suggested that individuals with psychopathic traits thrive in chaotic environments and are aware that others do not. As a result, they may intentionally create chaos in
342-665: A failure which cost the company £1m in wasted investment. The company's joint venture in Spain ended in January 2010 with partners Codere buying William Hill's 50% stakeholding for €1, after both parties had invested an initial €10 million in April 2008. William Hill lost £11.6m in 2008 and £9.3m in 2009 on the venture. In June 2012, William Hill expanded to Nevada , the only U.S. state that then allowed full-fledged sports wagering, buying three chains of sportsbooks: Lucky's, Leroy's , and
399-609: A new ordinary share rights issue to provide a timely capital boost during the COVID-19 pandemic . In August 2020, as a result of the economic effects caused by the COVID-19 pandemic, the company announced that it would close 119 shops permanently. Despite that, only 16 employees would lose their job positions, while the others would be assigned to new positions. It also announced that the firm would be merging its retail and online operations. On 30 September 2020, William Hill agreed to
456-435: A play-off with the 2nd, 3rd and 4th placed clubs from League One . Listed below are all the teams competing in the 2024–25 Scottish Championship season, with details of the first season they entered the second tier; the first season of their current spell in the second tier; and the last time they won the second tier. Italics denotes players still playing professional football, Bold denotes players still playing in
513-493: A political party is often entrusted with fundraising, particularly for election campaigns. In some countries, there is a dual board system with two separate boards, one executive board for the day-to-day business and one supervisory board for control purposes (selected by the shareholders). In these countries, the CEO presides over the executive board and the chairperson presides over the supervisory board, and these two roles will always be held by different people. This ensures
570-470: A record £19.2 million for social responsibility and anti-money laundering failures. Commenting on the penalty package, Andrew Rhodes, Gambling Commission chief executive, said: "When we launched this investigation the failings we uncovered were so widespread and alarming serious consideration was given to licence suspension. However, because the operator immediately recognised their failings and worked with us to swiftly implement improvements, we instead opted for
627-599: A source of criticism following a dramatic rise in pay relative to the average worker's wage . For example, the relative pay was 20-to-1 in 1965 in the US, but had risen to 376-to-1 by 2000. The relative pay differs around the world, and, in some smaller countries, is still around 20-to-1. Observers differ as to whether the rise is due to competition for talent or due to lack of control by compensation committees. In recent years, investors have demanded more say over executive pay. Lack of diversity amongst chief executives has also been
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#1732772798618684-504: A source of criticism. In 2018, 5% of Fortune 500 CEOs were women. In 2023 the number rose to 10.4% of for Women CEO's of Fortune 500 companies . The reasons for this are explained or justified in various ways, and may include biological sex differences, male and female differences in Big Five personality traits and temperament, sex differences in psychology and interests, maternity and career breaks, hypergamy , phallogocentrism ,
741-595: A television advert featuring the 2005 single " A Bit Patchy ". In December 2012, adverts stating "Best Prices on the Best Horses" and "Best Prices on the Best Teams" were banned by the ASA. It had breached several Committee of Advertising Practice code, including those relating to "misleading advertising", "Substantiation" and "Comparisons". The ASA also banned a different advert claiming "Best Odds Guaranteed" because it
798-421: A win and one point for a draw. No points are awarded for a loss. Teams are ranked by total points, then goal difference , and then goals scored. At the end of each season, the club with the most points is crowned league champion . If points are equal, the goal difference determines the winner. If this still does not result in a winner, the tied teams must take part in a playoff game at a neutral venue to determine
855-711: A £2.9 billion takeover bid by Caesars Entertainment , the Nevada-based casino operator. The deal was unanimously recommended by the UK company's directors. It came after two rival bids by the US private equity group Apollo were turned down. In April 2021, Caesars completed its acquisition of William Hill and the company was delisted from the London Stock Exchange . As Caesars was interested only in William Hill's industry expertise and its US operations,
912-879: Is attested as early as 1782, when an ordinance of the Congress of the Confederation of the United States of America used the term to refer to governors and other leaders of the executive branches of each of the Thirteen Colonies . In draft additions to the Oxford English Dictionary published online in 2011, the Dictionary says that the use of "CEO" as an acronym for a chief executive officer originated in Australia , with
969-402: Is often used in lieu of chief executive officer. Business publicists since the days of Edward Bernays (1891–1995) and his client John D. Rockefeller (1839–1937) and even more successfully the corporate publicists for Henry Ford , promoted the concept of the " celebrity CEO". Business journalists have often adopted this approach, which assumes that the corporate achievements, especially in
1026-418: Is sometimes included as one such subordinate executive officer, but, as suggested by Anthony Johndrow, CEO of Reputation Economy Advisors, it can also be seen as "simply another way to add emphasis to the role of a modern-day CEO – where they are both the external face of, and the driving force behind, an organization culture". In the US, the term "chief executive officer" is used primarily in business, whereas
1083-643: The Scottish Cup from 2011 to 2020, the PDC World Darts Championship from 2015 to 2022 and the Scottish Professional Football League since 2024. The company also sponsors the annual William Hill Sports Book of the Year award, dedicated to rewarding excellence in sports writing. In May 2008, The Advertising Standards Authority (ASA) banned William Hill from running a television advert which it found "condoned gambling behaviour that
1140-598: The executive committee (the division/subsidiary heads and C-level officers that report directly to the CEO). In the United States, and in business, the executive officers are usually the top officers of a corporation, the chief executive officer (CEO) being the best-known type. The definition varies; for instance, the California Corporate Disclosure Act defines "executive officers" as the five most highly compensated officers not also sitting on
1197-422: The 2003 budget proposing tougher levels of taxation for person-to-person betting exchanges . Howarth left the role in the wake of the 2009 expenses scandal . Under the terms of the deal, William Hill paid Playtech's founder Teddy Sagi £144.5 million for various assets and affiliate companies. These included several online casino sites which William Hill continues to run under the name WHG. Playtech took
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#17327727986181254-537: The Championship play-off winner prevails, the club is promoted and the Premiership club is relegated; otherwise, the Premiership club remains in its league while the Championship club is not promoted. For promotion and relegation, the Championship play-off system closely mirrors its Premiership counterpart—the bottom-ranked club in the Championship is automatically relegated while the 9th-placed club undergoes
1311-638: The European business was put up for sale, attracting bids from 888 Holdings , Apollo, and CVC. In September 2021, Caesars agreed to sell the European business to 888 Holdings for £2.2 billion. However, in July 2022, 888 reduced its offer to £1.95 billion and this was accepted. The sale was completed in July 2022. On 28 March 2023, the UK Gambling Commission ordered three William Hill Group companies - WHG (International) Limited, Mr Green Limited, and William Hill Organization Limited - to pay
1368-612: The Republic of Ireland with the loss of 53 jobs. In February 2010 it announced that the remaining 36 Irish shops were "under review" pending the possible introduction of controversial gaming machines to Irish shops. In 2011, William Hill sold its remaining betting shops in Ireland to BoyleSports because of what a William Hill employee described as "the restrictive nature" of the laws governing retail betting in Ireland. William Hill had pulled out of Italy in 2008 after just two years,
1425-578: The Scottish Championship. William Hill (bookmaker) William Hill is a British gambling company founded in 1934. Its product offering includes sports betting , online casino , online poker , and online bingo . Business operations are led from its headquarters in London , with a satellite office in Malta . The company was previously listed on the London Stock Exchange until it
1482-480: The UK, chief executive and chief executive officer are used in local government , where their position in law is described as the "head of paid service", and in business and in the charitable sector . As of 2013 , the use of the term director for senior charity staff is deprecated to avoid confusion with the legal duties and responsibilities associated with being a charity director or trustee, which are normally non-executive (unpaid) roles. The term managing director
1539-482: The acquisition of a majority stake in Alfabet. In 2007, William Hill threatened to withdraw its sponsorship of various horse races, in its dispute with racecourses over TurfTV. William Hill, which had been the strongest critic of TurfTV, was later forced into a humiliating climbdown and subscribed to the channel in January 2008. Away from horse racing, William Hill has sponsored many other sporting events, including
1596-422: The arena of manufacturing, are produced by uniquely talented individuals, especially the "heroic CEO". In effect, journalists celebrate a CEO who takes distinctive strategic actions. The model is the celebrity in entertainment, sports, and politics – compare the " great man theory ". Guthey et al. argues that "...these individuals are not self-made, but rather are created by a process of widespread media exposure to
1653-421: The board of directors. In the case of a sole proprietorship , an executive officer is the sole proprietor. In the case of a partnership , an executive officer is a managing partner, senior partner, or administrative partner. In the case of a limited liability company , an executive officer is any member, manager, or officer. Depending on the organization, a CEO may have several subordinate executives to help run
1710-500: The business, which may include maximizing the profitability , market share , revenue , or another financial metric. In the nonprofit and government sector, CEOs typically aim at achieving outcomes related to the organization's mission, usually provided by legislation . CEOs are also frequently assigned the role of the main manager of the organization and the highest-ranking officer in the C-suite . The term "chief executive officer"
1767-467: The company moved its online betting operations to Gibraltar to reduce its taxes by millions of pounds. In August 2010, William Hill launched a training programme for its 10,000+ workforce to combat underage gambling in its retail outlets. In 2019, William Hill became a founding member of the Betting and Gaming Council . In July 2019, William Hill announced it was closing 700 betting shops, saying this
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1824-407: The company's level of debt, which stood at over £1 billion and was later reported as £1.5 billion. In 2009, the company enacted both a rights issue and a corporate bond issue, in an effort to restructure its debt. From 2001 until 2009, William Hill paid George Howarth , a Member of Parliament , £30,000 to act as a parliamentary adviser. While on William Hill's payroll he tabled amendments to
1881-440: The day-to-day administration of the company, each of whom has specific functional responsibilities referred to as senior executives, executive officers or corporate officers. Subordinate executives are given different titles in different organizations, but one common category of subordinate executive, if the CEO is also the president, is the vice president (VP). An organization may have more than one vice president, each tasked with
1938-525: The dissolution of the partnership with Playtech. In May 2015, William Hill presented prototype of "Get In The Race" – a virtual horse racing application. On 2 August 2016, it acquired Grand Parade, the betting and gaming digital solutions company for £13.6 million in cash and shares. In 2018, William Hill was fined £6.2 million by the Gambling Commission for systematic failures regarding anti-money laundering and problem gambling. The operator
1995-562: The existence of old boy networks , tradition, and the lack of female role models in that regard. Some countries have passed laws mandating boardroom gender quotas. In 2023 Rockefeller Foundation awarded a grant to Korn Ferry to research strategies and then action a plan to help more women to become CEO's. There are contentious claims that a significant number of CEO's have psychopathic tendencies, often characterized by power-seeking behavior and dominance. These individuals can often conceal their ruthlessness and antisocial behavior behind
2052-478: The final placings. The champions are directly promoted to the Scottish Premiership , swapping places with the bottom club of the Premiership. The clubs finishing 2nd, 3rd and 4th then enter the two-legged Premiership play-off. The 3rd-placed club plays the 4th-placed club, with the winner then playing the 2nd-placed club. The winner of that game then plays against the 11th-placed Premiership club. If
2109-603: The first attestation being in 1914. The first American usage cited is from 1972. The responsibilities of an organization's CEO are set by the organization's board of directors or other authority, depending on the organization's structure. They can be far-reaching or quite limited, and are typically enshrined in a formal delegation of authority regarding business administration . Typically, responsibilities include being an active decision-maker on business strategy and other key policy issues, as well as leader , manager, and executor roles. The communicator role can involve speaking to
2166-407: The impression that they may try to benefit from arbitrage. CEO CEOs find roles in various organizations, including public and private corporations , nonprofit organizations , and even some government organizations (notably state-owned enterprises ). The governor and CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of
2223-504: The largest enforcement payment in our history." William Hill employs approximately 12,000 people, 8,000 of them in the UK. The company operates 1,414 betting shops. In addition to its online sportsbook operations, the company offers online casino games, skill games, online bingo and online poker . Since the Gambling Act 2005 , gaming machines have strengthened profits to counteract falling revenues in other areas. In 2009,
2280-662: The market in 2012. In preparation for Brexit , in June 2018, William Hill announced that it is opening a new satellite office in Malta . Following the decision of the US Supreme Court regarding the case of Murphy v. National Collegiate Athletic Association in June 2018, the state of New Jersey effectively legalised gambling on athletic events due to a previously successful state ballot initiative . William Hill entered arrangements to provide bookmaking services to both Monmouth Park Racetrack and Ocean Resort Casino in
2337-400: The organization. As a manager, the CEO presides over the organization's day-to-day operations. The CEO is the person who is ultimately accountable for a company's business decisions, including those in operations, marketing, business development , finance, human resources , etc. The use of the CEO title is not necessarily limited to describing the head of a company. For example, the CEO of
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2394-409: The point that their actions, personalities, and even private lives function symbolically to represent significant dynamics and tensions prevalent in the contemporary business atmosphere". Journalism thereby exaggerates the importance of the CEO and tends to neglect harder-to-describe broader corporate factors. There is little attention to the intricately organized technical bureaucracy that actually does
2451-450: The press and to the public, as well as to the organization's management and employees; the decision-making role involves high-level decisions about policy and strategy. The CEO is tasked with implementing the goals, targets and strategic objectives as determined by the board of directors. As an executive officer of the company, the CEO reports the status of the business to the board of directors, motivates employees, and drives change within
2508-566: The satellite operations of Club Cal Neva , for a total of $ 53 million. The deals at the time gave the company control of 55 per cent of the state's sportsbook locations, and 11 per cent of statewide book revenue. All three chains were to be rebranded under the William Hill name. In 2013, three Australian brands, Sportingbet , Centrebet and Tom Waterhouse , were purchased by the company and later rebranded as William Hill Australia in 2015. Both Sportingbet and Centrebet were acquired in March of
2565-601: The state of New Jersey. On 3 August 2020, the bookmaker opened the first full-service betting operation housing professional sports teams in the U.S. at Capitol One Arena in Washington D.C. In January 2021, a joint venture between William Hill and Argenbingo received a licence to offer online gambling services in the Argentinean province of Buenos Aires. On 5 May 2021, William Hill launched in Colombia following
2622-409: The term "executive director" is used primarily in the not-for-profit sector. These terms are generally mutually exclusive and refer to distinct legal duties and responsibilities. The CEO is the highest-ranking executive in a company, making corporate decisions, managing operations, allocating resources, and serving as the main point of communication between the board of directors and the company. In
2679-675: The value of the company. In 2005, William Hill bought 624 betting offices in the UK, Republic of Ireland , Isle of Man and Jersey from Stanley Leisure for £504 million: the acquisition briefly took the company past Ladbrokes into first position in the UK betting market in terms of shops but not revenue. The Office of Fair Trading made William Hill sell 78 of the 624 Stanley shops due to concerns over anti-competitive practices . In November 2008, William Hill went into partnership with Orbis (latterly OpenBet), and Israeli software company Playtech , to remedy its own failing online operation. The same month, analysts at UBS noted "concern" at
2736-457: The work. Hubris sets in when the CEO internalizes the celebrity and becomes excessively self-confident in making complex decisions. There may be an emphasis on the sort of decisions that attract the celebrity journalists . Research published in 2009 by Ulrike Malmendier and Geoffrey Tate indicates that "firms with award-winning CEOs subsequently underperform, in terms both of stock and of operating performance". Executive compensation has been
2793-802: The workplace. This perspective is explored in the book Snakes in Suits , co-authored by Robert D. Hare . However, Scott Lilienfeld has argued that the attention given to psychopathy in the workplace by both the media and scholars has far exceeded the available scientific evidence. Emilia Bunea, writing in Psychology Today , has linked psychopathic traits in managers to workplace bullying , employee dissatisfaction, and turnover intentions. Despite this, Bunea cautions that excessive worry about supposed psychopathic managers could discourage individuals from pursuing careers in corporations and deter employees from addressing issues with difficult bosses. In
2850-482: The year for $ 660m and $ 132m, respectively, while tomwaterhouse.com was brought in during August 2013, for an initial $ 34m. Tom Waterhouse was appointed chief executive officer of William Hill Australia in July 2014. In March 2018, William Hill sanctioned the sale of its Australian business to CrownBet holdings for an estimated value of AU $ 300 million. The sale ended the company's time in Australia after entering
2907-453: Was acquired by Caesars Entertainment in April 2021. In July 2022, William Hill was subsequently bought by 888 Holdings for £2.2 billion. The company was founded by William Hill in 1934. It changed hands many times, being acquired by Sears Holdings in 1971, then by Grand Metropolitan in 1988, then by Brent Walker in 1989. In September 1996, Brent Walker recouped £117m of the £685m it had paid for William Hill when Grand Metropolitan
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#17327727986182964-499: Was because of the decision three months before to reduce the maximum stake on fixed-odds betting terminals to £2. In August 2020, the company said it would close a further 119 shops that were not profitable during the COVID-19 pandemic. At the same time, the company returned £24.5 million in furlough funds it had received from the government. The company confirmed in 2018 that UK operations will continue to be managed from Gibraltar. In March 2009, William Hill closed 14 of its shops in
3021-439: Was eventually listed on the London Stock Exchange in 2002. The following year chief executive David Harding was awarded a £2.84m bonus, making him the UK's fifth highest paid company director in 2003. It acquired Sunderland Greyhound Stadium in 2002 and Newcastle Greyhound Stadium in 2003. In June 2004 Harding sold £5.2m of shares to fund his divorce, precipitating a decline in the company's stock that wiped £75 million off
3078-441: Was found to have accepted large deposits of cash linked to criminal activity between 2014 and 2016, resulting in £1.2 million in financial gains. William Hill was ordered to return the £1.2 million profit, plus pay a penalty of £5 million for breaching regulations. On 7 January 2019, William Hill received regulatory approval to conclude its purchase of Mr Green for £242 million. On 17 July 2020, William Hill raised £224 million in
3135-411: Was found to have exaggerated the company's profits at the time of the sale. Japanese investment bank Nomura mounted a £700m leveraged buyout of William Hill in 1997. In February 1999, a proposed stock market flotation was abandoned due to "weak interest" and Nomura sold the company to funds managed by private equity firms Cinven and CVC Capital Partners for £825m instead. The company
3192-505: Was misleading. In June 2021, William Hill launched its new master brand. As part of the relaunch, the company launched a new TV advert featuring its brand ambassadors Tony McCoy , Robbie Savage , Rio Ferdinand and Jermaine Jenas and used the Neil Diamond song Sweet Caroline . Scientific papers dealing with the statistics of sports betting mention that William Hill blocks customers or limits their stakes if William Hill gets
3249-540: Was socially irresponsible". In October 2009, the ASA banned a poster and national press advertisement which promised "£100 of free bets". The ad was found to be "likely to mislead" and in breach of a Committee of Advertising Practice code relating to "truthfulness". In March 2010, an advert stating "William Hill best prices fact" was banned by the ASA. It had breached several Committee of Advertising Practice codes, including those relating to "substantiation", "truthfulness" and "honesty". In September 2011, William Hill made
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