David Yu

From Wikipedia, the free encyclopedia
Jump to: navigation, search

David Yu is the former chief executive officer of Internet betting exchange Betfair.

Yu studied computer science at UC Berkeley and Stanford.[1]

Yu moved to London from California in 2000 at the behest of his employer Alta Vista.[2] He became chief technology officer of Betfair in 2001. He was promoted to the position of CEO in January 2006 during a turbulent time for the company that saw the shakeup of the positions of CEO and Chairman with Sir Robert Horton being forced out as Chairman.[3] As an IT guy, Yu's promotion to the helm was unusual.[4]

He took the company public on the London Stock Exchange in October 2010.[2]

On 27 June 2011, it was announced that David Yu would be leaving Betfair via a press release:-

After ten years with Betfair, and nearly six as CEO, David Yu has informed the Board that he believes it is now the right time for the company to start looking for his successor. He does not intend to renew his current contract (which expires in October 2012) and therefore the Board will now begin a search process for a new CEO. During the process of identifying his successor, David will remain fully committed to the Company and to delivering the plans for future growth.

David Yu said, “I have discussed my plans with the Board and as a result, we are beginning the search for my successor. We are announcing this now so we can actively and transparently begin the process. I will remain committed to delivering the best for our people and our shareholders and will give the Board all possible support during the succession process so we can find a great, new CEO to steer Betfair through its next phase of growth.”

Edward Wray, Chairman, said: “We understand why after ten years David would like to start thinking about the next stage of his career and, in time, hand the reins over to a new CEO. The open manner in which we will conduct the search will make it easier for us to find the best candidate for the role. With the Board’s full support, David will continue to focus on delivering against the business’ plans as we search for his successor.”

David Yu stood down as CEO and from the Board on 31 December 2011.

References[edit]

  1. ^ "TechRepublic - A Resource for IT Professionals". Silicon.com. Retrieved 2012-08-06. 
  2. ^ a b Moules, Jonathan (2011-06-21). "From Silicon Valley to Silicon Britain". FT.com. Retrieved 2012-08-06. 
  3. ^ Garrahan, Matthew (2006-01-05). "Horton forced out of Betfair after pressure from investors". FT.com. Retrieved 2012-08-06. 
  4. ^ "TechRepublic - A Resource for IT Professionals". Silicon.com. Retrieved 2012-08-06. 

External links[edit]