Paddy Power has announced the departure of chief operating officer Breon Corcoran, who will join Betfair as chief executive in August 2012.
“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,” said Corcoran in a statement.
Outgoing chief executive David Yu, who this summer announced plans to step down, has spent a decade at Betfair, including six years as the betting exchange’s CEO.
Corcoran joined Paddy Power in 2001 and was appointed to the board in 2004. Chief executive Patrick Kennedy said: “Breon has made a strong contribution to the development of Paddy Power over the past 10 years and we thank him for this. We wish him success in the future.”