BUSINESS

Betfair loses another executive

TAGs: Betfair

Betfair has lost its second executive of the dayIt’s understood that Betfair has today seen the departure of a second executive after the earlier news that LMAX has seen one fly through the exit door.

Reports on eGaming Review seem to suggest that a second senior executive has decided to quit their role, although neither move is linked to the other.

The man to be exiting through the revolving door is Betfair’s chief products and services officer Mathias Entenmann.

He was appointed at the start of 2007 by the firm to oversee products in addition to helping the company’s global operations branch coordinate their launch in the United States.

A Betfair spokesperson told eGR that he was leaving the position at the end of April after “taking the decision to relocate back to Germany with his family.”

The German executive also previously held the reputable position of UK Managing Director and will be sorely missed.

No replacement has yet been appointed by the online gaming exchange but you can’t imagine they’ll be sitting twiddling their thumbs for long.

It’s also interesting to point out that the company’s share price has in fact risen today after the news of the two members of staff leaving.

After being roundly criticized by a number of analysts, the price has today tipped the scales of 1000p and stands at 1001p at the time of writing. That represents a rise of 15.5p compared with the position it was in at the start of the day.

This comes after earlier today it was revealed that fledgling start-up LMAX had lost their first CEO although a replacement has already been appointed.

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