VRC members return incumbent directors
Victoria Racing Club (VRC) members returned directors John O’Rourke, Michael Ramsden, Sophie Cornell and Neil Werrett to the Club’s board at Friday’s Annual General Meeting (AGM) following a ballot.
In total, ten VRC members—the four incumbent directors and six candidates—stood for four vacant positions.
Mr O’Rourke has served on the VRC board since 2011, and as Vice-Chairman since February 2017.
Mr Ramsden joined the VRC board in 2012 and has served as Honorary Treasurer since February this year.
Ms Cornell has served on the VRC board since 2015 and is Chair of the VRC Community, Charity and Foundation subcommittee.
Mr Werrett was appointed to the VRC board earlier this year, bringing extensive global business experience. He also serves on the Racing subcommittee.
VRC Chairman Amanda Elliott congratulated all four directors on their election.
“John, Michael, Sophie and Neil are terrific contributors to the board, and their different individual skills and expertise are great assets.”
Mrs Elliott was reappointed as Chairman by the board, while Mr O’Rourke was reappointed Vice-Chairman and Mr Ramsden as Honorary Treasurer.
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Mrs Elliott and VRC Chief Executive Officer Neil Wilson also reported at the AGM another successful racing season, strong progress towards important strategic goals and a healthy balance sheet.
The VRC achieved a profit of $5.3 million in season 2017/18, an increase of $3.2 million on the $2.1 million in 2016/17. Notably, the Club invested $96.9 million in capital projects during the year, including $87 million towards the construction of The Club Stand.
“The construction of the state-of-the-art Club Stand saw one of the most significant chapters written in the rich history of the VRC, and we remain clear about the need to continue to be innovative and to raise the bar in terms of the experience our members and patrons enjoy both on and off course, locally and globally,” Mrs Elliott said.
“The Board is deeply committed and absolutely determined to take our Club into the future, with a strategy that moves the business forward in a dynamic, energetic and profitable way—without ever losing the essence of what the VRC represents.
“The 2018 Melbourne Cup Carnival was a resounding success and it was a privilege and honour to oversee my second Carnival as Chairman.”
Highlights from the 2018 Carnival included:
*The opening of the world-class $128 million Club Stand
8A 4.2% increase in attendance on AAMI Victoria Derby Day
*Record prizemoney for the Lexus Melbourne Cup of $7.3 million and $2 million for the AAMI Victoria Derby
*Total domestic wagering turnover on the four-day Melbourne Cup Carnival growing by 1.5% to $656.7 million
*Channel Seven’s coverage of the Lexus Melbourne Cup on Twitter reaching more than 2 million global total unique viewers in its third year of live streaming the race that stops a nation™
*The Cup Day Festival at Barangaroo in Sydney attracting more than double the attendance of 2017
*$345,000 raised by Pin & Win partner JDRF and the VRC to help support 120,000 Australian children and adults living with type 1 diabetes.
“I look forward to leading the board in 2019 as the VRC brings the very best in racing and entertainment to a broad audience,” Mrs Elliott said.