Betfair's Wass to leave after not landing CEO job
Betfair chief commercial officer Niall Wass will join Wonga.com as COO after Corcoran beats him to role of chief executive, sources close to the matter have told eGaming Review.
Long-serving Betfair chief commercial officer and board member Niall Wass will leave the operator next month after failing to land the role of chief executive, sources close to the matter have told eGaming Review.
After being overlooked for the CEO role, recently accepted by former Paddy Power COO Breon Corcoran, Wass has decided to leave and join short-term loan provider Wonga as its new COO at an unknown date. Corcoran will join Betfair in August next year once his non-compete agreement expires. The Irishman will replace outgoing CEO David Yu, while chairman and majority shareholder, Ed Wray, will stand down once a successor has been found.
Wass, who has been at the company for eight years, oversaw the operator’s marketing budget and strategy, regional P&Ls and commercial development including its exclusive deal with Manchester United Football Club. He will leave in mid-December.
His deputy, Andy Botha, who has worked with the departing chief commercial officer for three years, will take over his position on an interim basis until a permanent appointment is made, according to a Betfair spokesman.
Wonga offers individuals short-term loans of up to £1,000, but has been criticised for its high interest rates, currently standing at an annual rate of 4,214% according to its website.