Betfair Appoints Yet another Member of Board of Directors

New Deputy Chairman - Gerald Corbett

A new appointment has been announced by the Betfair online gambling group this week – that of Gerald Corbett to its board of directors as Deputy Chairman, effective 3 January 2012.

Prior to this, he worked as a director of eleven public companies, four as chairman, including SSL International plc. At the moment, he is chairman of Britvic Plc, Moneysupermarket Group Plc and the Royal National Institute for the Deaf, but he also occupies the role of a non-executive director of the investment and stock broking business, Numis Securities and of Towry Holdings Limited.

It has been stated in the announcement that "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."

A comment also arrived from current chairman, Ed Wray, who said: "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."

As for Corbett himself, he stated: "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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