After a five month “extensive search” which included looking at both internal and external candidates, Betfair has confirmed its new Chief Executive. Breon Corcoran, who is currently the Chief Operating Officer at rival betting company Paddy Power, will take on the role as the David Yu steps down from the position.

Breon brings with him a wealth of experience.

He is currently responsible for the Paddy Power Group's online businesses, its technology function and the Group human resources function as well as its Australian operations and development opportunities in certain key geographies. Prior to his appointment as Chief Operating Officer in August 2010, Breon was Managing Director - Non Retail and Development. He joined the Group in April 2001 with responsibility for development of the non-retail business having previously worked with J.P.Morgan and Bankers Trust as well as a number of start-ups. Breon is a graduate of Trinity College, Dublin with an MBA from INSEAD. He was appointed to the Board in August 2004.