|US-facing online horseracing site YouBet.com has announced the appointment of Chairman of the Board Michael Brodsky as its new President and Chief Executive Officer following the resignation of interim Chief Executive Officer Gary Sproule.|
Brodsky will be YouBet.com's third Chief Executive Officer in the last six months with the reasons behind Sproule's resignation unannounced. Sproule had been at YouBet.com since 2002 and served as the firm’s Chief Financial Officer and Chief Operating Officer before becoming interim Chief Executive Officer in December following resignation of Charles Champion after five years at the helm.
“As we continue in our transitional phase, we believe Michael is the right person and has the requisite experience to lead us through this period and leverage our ADW platform and United Tote,” said Jack Liebau, Director for YouBet.com.
“We thank Gary for all of his hard work for YouBet.com over the past six years and for steering the company over the past few months and we wish him the best in his future endeavours.”
Brodsky joined the board for YouBet.com as a Director in June and became Chairman of the Board in February. He previously served as a Managing Partner for New World Opportunity Partners, a public equity investment firm, and as Chief Financial Officer for Away.com, an online travel media company.
“I believe YouBet.com is beginning to move in the right direction and I eagerly anticipate the forthcoming challenges during this transition period,” said Brodsky.
“YouBet.com Express is the pre-eminent online wagering platform in the country and we hope to leverage its distinct advantages as well as our United Tote platform in order to complete our back-to-basics restructuring. I look forward to working with the board and the YouBet.com team as we continue to focus on growing this unique transaction-based Internet business.”