air have appointed Breon Corcoran as their new chief executive officer. The 40-year-old will join the online exchange on 1st August 2012 from Paddy Power where he currently holds the position of chief operating officer.

Betfair have been searching for a new CEO since David Yu announced back in June that he would not be renewing his contract with the company.

Corcoran has spent most of his ten years at Paddy Power working on the bookmaker’s non-retail and development divisions, while he was also involved in the company’s UK online operations as well as its expansion into Australia.

Corcoran said: "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."