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Legal chief Cruddace to leave Betfair this autumn

05 June 2013

Martin Cruddace

Martin Cruddace: joined Betfair in 2004 from law firm Schillings

PICTURE: Edward Whitaker (racingpost.com/photos)

Legal chief Cruddace to leave Betfair this autumn

Cruddace, who joined Betfair as group director of corporate and legal affairs in July 2004, made the decision to leave his role following the successful conclusion of a number of regulatory issues.

Betfair chief executive Breon Corcoran said on Monday: "Martin has made a significant contribution to Betfair's development over the last nine years and has decided now is the right time to step down. I would like to wish him the very best for the future."

Cruddace, who is also company secretary, will give up his executive roles at the end of this month but will not officially leave the exchange until early September. It is understood he will spend the summer deciding on his next career move.

In recent months a number of issues have been settled, including the long-running legal battle with William Hill over whether some betting exchange clients should be liable to levy.

Italy and Spain have recently approved betting exchanges while the five-year £40 million commercial agreement signed with the BHA last year, along with the court of appeal case against William Hill, sealed Betfair's status as a partner with the sport's rulers after years of friction.

BHA chief executive Paul Bittar negotiated that deal with Cruddace and said: "I am sorry to hear of Martin's departure and wish him well in the future. No-one could question his commitment to the Betfair cause and he was a driving force behind the groundbreaking commercial deal struck last summer - it simply wouldn't have happened without him - and he showed considerable foresight to bring the parties together."

Cruddace, who was perhaps the last of the main figures left at Betfair from the 2010 flotation, joined the company from law firm Schillings. He was previously head of the legal department for Mirror Group Newspapers.

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