Gerald Corbett appointed as Betfair chairman

LONDON, England -- Betfair has a new chairman Gerald Corbett, The Guardian reported.

The challenged gambling company will be hoping Corbett can help turn their fortunes around as shares prices are down.

Corbett spent three years at the helm of Railtrack, Britain's post-privatisation rail infrastructure company and had stints as chairman of Woolworths, (a retail company) and Durex, The Guardian reported.