Marsh said he intends to remain at the London-headquartered packaging giant “given the current unprecedented circumstances”.

DS Smith, who confirmed Marsh's prior resignation last month, said Marsh and the company's board have agreed that this would now be treated as withdrawn and, accordingly, Marsh will continue with the business in the role of group finance director.

DS Smith group chief executive Miles Roberts said: “We are pleased that Adrian will be remaining with DS Smith, providing continuity and stability in this very important time.”

Marsh had been due to join William Hill later this year and was set to replace Ruth Prior, who is leaving the company to join Element Materials Technology. She is currently serving out her notice and William Hill has recommenced the search for a new chief financial officer.

William Hill chair Roger Devlin said: “Whilst we note the reasons for Adrian's decision, William Hill is focussed on taking the necessary steps required in these unprecedented times to protect the interests of its stakeholders. We will provide an update in due course.”

DS Smith's share price was up by 0.5% in early trading to 280.5p (52-week high: 397.8p, low: 244.8p).