Gerald Corbett will be joining Betfair’s board of directors as Deputy Chairman from January 3, 2010.
Corbett has extensive experience under his belt, previously working as a director of eleven public companies, and being chairman of four. Currently he is employed as chairman of Britvic Plc., Royal National Institute for the Deaf and Moneysupermarket Group Plc.
Corbett was also chairman of SSL International plc. and chairman of the Woolworths Group plc. Other employment spells include CEO of Railtrack plc. and Group Finance Director at Grand Metropolitan plc. and Redland plc.
The company commented the appointment: "At the time of the IPO Betfair made a strong commitment to move towards full compliance with the Combined Code on Corporate Governance and with this in mind, Gerald will take over from co-founder Edward Wray as Betfair chairman during the first quarter of 2012. At that point the Board will be compliant with the Code in all respects."
Current chairman, Ed Wray, had the following to say: "I am delighted that Gerald is joining the Board. His considerable experience of both the City and the commercial world will be a real asset to the Board and the business. This appointment lays the foundations for us to complete our succession plan and enables us to revert to standard governance practice. I look forward to working with Gerald and ensuring a smooth transition for him into the role of Chairman."
Corbett himself commented his appointment: "The business has achieved a huge amount in its first eleven years and I look forward to working with my new colleagues on the next phase. There are opportunities and challenges and we are well positioned to continue our success."
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