Youbet division getting a new president

Jeff True, the president of Youbet.com's bet-processing company, United Tote, for the past six years, will be replaced by Dawn Haden on Nov. 1, the company announced on Friday.

True said Friday that he had resigned in a "mutual decision" with management of Youbet, and that he would be seeking employment after October both inside and outside of the industry.

"The industry is going through a pretty serious correction right now, and to the extent that I can help someone out there get through it, that's where I would look," True said.

True was elevated to the position of United Tote's president shortly after Youbet.com purchased the company early in 2006. He joined Youbet in 2003 as the head of the company's promotion and promotion-partners program after six years at Los Alamitos Race Course near Los Angeles.

Haden joined Youbet in 2008 and has spent the past 18 months "overseeing the transition and redesign of key administrative and operational systems" for Youbet and United Tote, said Youbet's chief executive, David Goldberg, in a statement.