Betfair chief heads for exit
Betfair is on the hunt for a new chief executive today after David Yu announced that he would leave after ten years
The company said Yu “does not intend to renew his current contract”. The deal ends in October next year.
From a float eight months ago at £13 a share, which valued the company at £1.4bn, the stock has fallen back.
Ed Wray, chairman and co-founder, said: “We understand why, after 10 years, David would like to start thinking about the next stage of his career.”