Racing Victoria appoints former Betfair chief as new CEO
RACING Victoria has ended its search for a new Chief Executive after the board decided to appoint CFO Giles Thompson as its new CEO.
Current acting CEO Giles Thompson appointed Chief of Racing Victoria
— Jo McKinnon ? (@Jo_McKinnon) April 21, 2017
Thompson takes on the role of CEO after two years within the RV organisation.
Formerly the Betfair Australia Chief Executive, Thompson had formerly held senior executive positions within the media industry at APN News and Media and The Financial Times Group.
RV Acting Chairman, Mike Hirst believes the appointment will help racing in Victoria maintain its status as the premiere thoroughbred state in Australia.
“The Board is delighted to appoint Giles Thompson to the position of Chief Executive and know that under his leadership and strategic guidance Victorian racing will maintain its position of pre-eminence and maximise its growth and benefit for all stakeholders.” Hirst said.
“Giles has made a seamless transition from the position of Chief Financial Officer this year. His intimate knowledge of the organisation, racing and wagering has ensured that the administration of the sport has continued without impact during the transition to a new Chief Executive.”
Hirst said the performance of Thompson while occupying the interim role was pivotal in securing the full time position.
“The Board has been impressed with Giles’ performance in the acting capacity and the surety around the governance model for Racing Victoria, following this week’s Special General Meeting, now allows us to move forward with this important appointment.
“Giles officially assumes leadership of Racing Victoria at an exciting time for both the organisation and Victorian racing. Participation is at record levels with over 60,000 active owners in Victoria and with great racing on the track wagering is up over 9% this financial year.
“This success has led to a strong financial position which enables Racing Victoria to invest in racing’s future.”
The move raised eyebrows in the racing community given how much time and resources was placed into the new CEO search.
After all this time and world wide searching acting CEO Giles Thompson appointed to the top job. @RacingInsider @G1X_RACING
— Bruce Clark (@snowyclark) April 21, 2017
Despite the criticism from some quarters, Thompson believes he has the vision to make racing in Victoria reach unprecedented levels of popularity and prosperity.
“I have a great passion for thoroughbred racing so I’m both honoured and excited at the opportunity to lead a wonderfully talented and committed team at Racing Victoria and to serve the more than 70,000 people who actively participate in Victorian racing.” he said.
“I look forward to continuing the rollout of our vision of ‘racing for all’ as we work with our participants and clubs to respond to the needs and demands of owners, punters, racegoers and the broader community.”
Thompson said that a greater emphasis on animal welfare as well as maintaining the sanctity of the sport will be paramount if his tenure is to be a success.
“Thoroughbred racing in Victoria is a great sport to get involved in and I am very pleased to lead Racing Victoria as it pursues future growth and sustainable development.
“We must achieve this while focusing on and investing in equine welfare and the integrity of our sport – our customers and participants expect it and our horses deserve it.”