Gerald Corbett to replace Ed Wray as Betfair chairman
Current Britvic chairman will begin as Wray's deputy before taking over from the co-founder in Q1 2012.
Betfair has ended its search for a new chairman, with Britvic Plc chairman Gerald Corbett set to take up the role in the first quarter of 2012.
Corbett will initially serve under Ed Wray, who earlier this year announced plans to step down as chairman “at an appropriate time in the future,” beginning as deputy chairman on 3 January before replacing Wray in the first quarter of 2012.
The former Woolworths chairman, who stepped down from his role with the retail group in 2007, has served on the boards of 11 public companies, four of them as chairman. As well as drinks company Britvic he is also chairman of Moneysupermarket Plc and the Royal National Institute for the Deaf.
Corbett was also chief executive of Railtrack between 1997 and 2000, and is currently a non-executive director with stockbrokers Numis and financial advisors Towry Holdings Limited.
Wray spoke highly of Corbett, saying his “[C]onsiderable experience of both the City and the commercial world will be a real asset to the Board and the business.”
Corbett said: “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.”
He is the second high-profile senior appointment in little over a month, after the London-listed operator announced that Breon Corcoran would take over from David Yu as chief executive in August 2012.