Sunday November 13, 2011 : Major betting group confirms speculation that it has hired Breon Corcoran as CEO
Betfair has confirmed rumours circulating earlier this week that Paddy Power's chief operating officer, Breon Corcoran (40), has been hired as chief executive officer after a five month search for a successor to current incumbent David Yu.
The appointment will come into effect only in August 2012, the company revealed.
Corcoran took over the chief operating officer responsibilities at Paddy Power last year, the culmination of a nine year career with the company, during which he has directed online, mobile and Australian operations with distinction. Prior to joining Paddy Power, Corcoran worked for J.P. Morgan.
Commenting on Corcoran's impending departure, Patrick Kennedy, chief executive of Paddy Power said: "Breon has made a strong contribution to the development of Paddy Power over the past 10 years and we thank him for this. We wish him success in the future".
Corcoran said in a Betfair statement: "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."