Betfair Group has announced the appointment of Breon Corcoran as its new chief executive officer.
Corcoran, who will take up his position on August 1, 2012, joins from Paddy Power where he has been chief operating officer since 2010 and a board member since 2004.
He will succeed David Yu, who has spent 10 years with Betfair and nearly six as CEO. Betfair announced on June 27, 2011, that Yu 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."
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."
