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Betfair Appoints Breon Corcoran As New CEO
10 Nov 2011
Betfair Group plc (LSE:BET), one of the world's largest international online sports betting providers, has today announced the appointment of Breon Corcoran as Chief Executive Officer. He will take up his position on 1st August 2012. Breon, 40, joins from Paddy Power where he has been Chief Operating Officer since 2010 and a Board member since 2004.
Breon will succeed David Yu, who has spent ten years with Betfair and nearly six as CEO. Betfair announced on 27 June 2011 that David would not be renewing his current contract and that a search had started to find his successor.
Betfair's Chairman, Edward Wray, commented: "We have conducted a very thorough international search process over recent months and I am delighted that Breon will be Betfair's new CEO. He joins at what is an exciting time for Betfair and brings with him significant industry experience and a track record of success. The combination of his online expertise and gaming sector knowledge makes him ideally suited to the role.
"We very much look forward to welcoming Breon and working together to ensure that Betfair can further enhance its position as a leading global online sports betting operator."
Breon Corcoran commented: "Betfair's unique technology provides the company with a fantastic position in the online gaming industry and I believe it has a bright future ahead of it. I am very pleased to have the opportunity to lead the company and look forward to working closely with the Betfair team to grow the business further."
There is no further information to be disclosed under paragraph 9.6.13 of the Listing Rules with regard to this appointment.
For further information, please contact:
Tel: +44 20 7250 1446
Notes to Editors
Breon Corcoran joined Paddy Power in April 2001. He became Managing Director responsible for non-retail and development and a Board Member in 2004. In August 2010 he was appointed Chief Operating Officer. As COO, he was responsible for the company's online businesses, its Australian operations, as well as the company's technology and human resources functions.
Before joining Paddy Power, Breon worked for JP Morgan, Bankers Trust and a number of start-up firms.
Breon graduated in Mathematics at Trinity College, Dublin and holds an MBA from INSEAD.
About Betfair: (www.betfair.com)
Betfair is one of the world's largest international online sports betting providers and pioneered the betting exchange in 2000.
Driven by cutting-edge technology, Betfair enables customers to choose their own odds and bet against each other. The company now processes over seven million transactions a day from its four million registered customers around the world. In addition to sports betting, Betfair offers a portfolio of innovative products including casino, exchange games and poker.
Betfair has twice been named the UK's 'Company of the Year' by the Confederation of British Industry and has won two prestigious Queen's Awards for Enterprise, being recognised for Innovation in 2003 and most recently for International Trade in 2008. Betfair currently employs over 2,000 people worldwide. The company holds betting licences in Gibraltar, the US, Tasmania, Italy and Malta.
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