According to the announcement made by 888 Holdings a few months ago, Per Widerström was appointed as the company’s CEO, who came to the position on 16 October.
Jonathan Mendelsohn, who served as temporary CEO, will now return to his former role as non-executive chair. Moreover, he will also assume a new role within 888’s nominations committee, according to the company’s announcement.
Widerström started his path with 888 Holdings during a challenging year for the FTSE 250-listed wagering company. This year, William Hill faced problems that resulted in a substantial fine of £19.2 mln in the Q1. The monetary penalty came after a regulatory investigation into 888’s anti-money-laundering measures in its Middle Eastern operations, which resulted in former CEO Itai Pazner’s resignation in January.
Widerström’s coming is expected to bring stability, particularly in the wake of an attempted takeover by activist investor FS Gaming.
Prior to Widerström’s hire, interactive investor analyst Victoria Scholar noted that the company might enter a new, more optimistic phase as a result.