Betfair Appoints New CEO
Published: Wednesday, January 04, 2006 Online-Casinos.com
BETFAIR APPOINTS NEW CEO
Several resignations from the Board announced
The major UK betting exchange group, Betfair has confirmed significant changes
in its top executive structure.
The company has named Chief Operating Officer David Yu as its new chief
executive to succeed Stephen Hill, who left after the company shelved plans
for a share sale amid reports of some acrimony. Hill departed the company on October
14, about six weeks after the departure of Chief Financial Officer Owen O'Donnell.
Important Board changes have also taken place. Robert Horton has resigned
as executive chairman effective immediately, along with non-executive directors
Nick Irens and Justin Dowley. Tim Bunting has joined the
board to replace Horton (see earlier Online-Casinos.com & InfoPowa report).
Reassuring the market, the Betfair statement revealed that the group still expects
to meet financial goals for the fiscal year ending in May.
