Ed Wray leaving as Betfair chairman

Ed Wray the Betfair co-founder has announced he is to step down as chairman.

In a statement at the companies AGM held at the British Academy of Film and Television Arts in London, Wray said the company had now started a search for a deputy chairman of the board.

Mr Wray also thanked shareholders “along with our longstanding investors” for their support during a 12-month period in which Betfair “completed a key step in the evolution of the business through the Company’s listing on the London Stock Exchange in October”.

With the departure of CEO David Yu already announced in June, Betfair are now looking for another senior level placement.