Betfair names new CFO

Internet betting company Betfair has named Alexander Gersh as its new Chief Financial Officer, the former head of finance at US digital pay-TV technology firm NDS Group.

Gersh succeeds Stephen Morana, who announced in September that he would be stepping down, on December 3rd but Morana will make himself available over the next few months to ensure a smooth transition, Betfair said.

"Alex has extensive and valuable experience of working in highly competitive, international businesses and a proven track record of delivering results. I welcome him to Betfair and look forward to working with him," said Chief Executive Officer Breon Corcoran.

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"I would like to thank Stephen for his contribution to Betfair over the past 10 years and we wish him every success for the next stage of his career".

Gersh said: "Betfair is at an exciting and important stage of its development and I look forward to contributing to the future success of the business".

BC