New CEO at Betfair

It has been a while in the happening Betfair finally has a new CEO. The UK betting giant has confirmed that a new CEO will replace the current incumbent in due course. Breon Corcoran will leave his job at Ireland’s biggest bookmaker Paddy Power for an executive offer at Betfair starting August 2012.

Corcoran will be replacing David Yu; Betfair’s CEO for the past 10 years. The new CEO will be injecting some fresh ideas into the Betfair organization. This is very good news as this year has been catastrophic economically wise for Betfair. It is still a sound company but any help to boost figures at this point is more than welcome.

Breon Corcoran is highly respected in the gambling business and Betfair have done well in making this appointment.Betfair has been facing difficulties in regards to online gambling regulations and increased  competition from other sites. It is to be noted that Betfair has recently lost highly qualified executives, with the departure of Ed Wray and Robin Osmond. Paddy Power and Betfair have not made any statement on the news yet.

Written for Bet Gambling by Helen.