Hill, 42, was formerly the CEO of the Financial Times Group, part of Pearson PLC. He left the FT last year to pursue opportunities in private equity.
During his 15 years with Pearson, he also served as managing director of the Financial Times newspaper, CEO of Westminster Press Limited, and Director of Strategy for the company.
Prior to this he worked at Diageo PLC and the Boston Consulting Group. Stephen is also a non-executive director of the Royal & SunAlliance PLC and Psion PLC.
Said Hill: "I am delighted to be joining Betfair. Of all the companies I have looked at as investment opportunities, this is by far the most exciting. Like eBay, Betfair is using the internet to truly revolutionise the way customers can interact with each other.
"What co-founders, Edward Wray and Andrew Black, have created is a fantastic business, which has a truly global appeal. I am very happy to be joining the company at such an exciting stage of its life."
Edward Wray, co-founder of Betfair, and current chief executive will now focus primarily on establishing Betfair’s proven business model in the international market place.
Betting exchange firm Betfair has appointed Stephen Hill as its new chief executive with immediate effect.
