Betfair Chief Steps Down Stephen Hill has resigned as chief executive of Betfair, Britain´s leading betting exchange, to face fresh challenges. He will pursue a new venture, focusing on investment in small to medium sized companies and providing management, specialising in growth and turnaround situations. 'I have enjoyed my time at Betfair and believe I have done what I set out to do,' said Hill. 'The business is thriving. International expansion is progressing well and our portfolio of products is growing. 'I am proud to have been associated with the company. However, I feel now is the right time to make this move.' Betfair chairman Sir Robert Horton will take over the role of executive chairman with operational matters being handled by chief operational officer David Yu until Hill´s successor is found. 'Stephen leaves us with a top-class management team and the ability to scale significantly,' said Horton. 'We understand his reasons for leaving, and we wish him all the best in his new venture.'? PA Sport
