888 Holdings PLC (LSE:888) has named a new chief executive only days after a plot by activist investment group FS Gaming to take control of the gambling company folded.
The owner of William Hill and Mr Green said it has appointed Per Widerstrom, who will take the helm in October.
Widerstrom has more than 17 years of experience in the online gaming industry, having most recently held the position of CEO at Fortuna Entertainment Group, 888 noted in a statement.
Lord Mendelsohn, executive chair of 888, commented: “The board unanimously agreed that Per was the clear standout candidate to lead the group to build on the strong platform for growth and value creation that has been established.”
FS Gaming, a consortium of former Entain PLC executives, has built a 6.57% stake in 888 with the intention of installing a new leadership team.
But last week, 888 announced an end to those discussions due to an ongoing investigation by HMRC of Entain for various historical offences, including bribery.
888 itself has had a troubled year including a record fine for William Hill from the gambling watchdog and a probe into its Middle East operations after failing to protect consumers and for weak anti-money laundering controls.
The latter prompted the departure of 888's previous CEO, Itai Pazner.