Betfair confirms CEO to quit
“After ten years with Betfair, and nearly six as CEO, David Yu has informed the Board that he believes it is now the right time for the company to start looking for his successor. He does not intend to renew his current contract (which expires in October 2012) and therefore the Board will now begin a search process for a new CEO. During the process of identifying his successor, David will remain fully committed to the Company and to delivering the plans for future growth.”
https://www.investegate.co.uk/article.aspx?id=201106270700111416J&fe=1
Probably a bit of a shock for people who invested early on and now find themselves sitting on a 50% loss. The market has reacted calmly to the news, but most of it was probably in the price already.
https://finance.yahoo.com/q/bc?s=BET.L+Basic+Chart&t=1y
Category: Betfair
