David Yu, who has been the CEO at Betfari for over 6 years, has resigned and will be leaving the organization very soon. Yu's contract ends in October 2012, but yesterday he said that he wants leave earlier than that. The reason for this might be the strict & tough regulations in Europe and USA.
Apart from that, the company's stock price has dropped 47% since October last year. It remains unclear what David Yu will do after leaving Betfair. But one thing is for sure though: Yu isn't in a hurry to find a new job as he earned about half a million british pounds per year working for Betfair.
Half a million per year is a bit more than i am doing right now, i think i will look up for the recruit link at Betfair's homepage. You never know when they decide to refresh the team with someone new, inteligent, dynamic, with knowledgeable of the intricacies of the operation of law in Europe... I think i'm in the right way for a letter of recomendation of someone to be the next CEO of Betfair: myself!
