Friday, 22 September 2017: Racing Victoria (RV) Acting Chairman, Mike Hirst, has paid tribute to the five Directors who will be retiring from the RV Board in the next fortnight.

Minister for Racing, Hon. Martin Pakula, has today appointed a newly constituted RV Board of eight members following amendments to the RV Constitution.

Mr Hirst, Michael Andrew and Greg Nichols remain on the RV Board, while Bryan Gurry, Prue Hayes, Mohan Jesudason, Pearse Morgan and Alice Williams retire as part of the planned transition.

Mr Hirst acknowledged the five retiring Directors for their outstanding service to RV and the Victorian racing industry.

“On behalf of the industry, I would like to extend our sincere gratitude to the five retiring Directors for their outstanding service and commitment to Victorian racing,” Mr Hirst said.

“Each of these individuals has worked tirelessly through a challenging time to ensure that Victorian racing remains a leader in the racing and sporting communities and to implement strategies that foster continued growth across the industry for the betterment of all.

“They can be proud of their achievements during their respective terms and for the professionalism, dedication and passion they have displayed in discharging their duties as an RV Director.

“These Directors depart in the knowledge that Victorian racing is in its strongest financial position on record with customer engagement and participation continuing to grow and with the very best racing being showcased locally and to the world.

“They leave with a strong and committed executive and management team in place that is armed to continue to deliver the strategies that will ensure a vibrant and successful future for our customers, participants and Clubs.”

Key achievements of the RV Board include:

• The profound shift in the financial health of RV which has seen a $40 million debt transformed into a $60 million plus Future Fund and $30 million of cash and equivalents over the past six years with RV soon to announce another healthy surplus for FY17;

• The significant growth in the returns to owners and participants with over $40 million in prizemoney increases announced since May 2015 ensuring a record $215 million is on offer in the current racing season;

• The consolidation of Victorian racing as the product of choice for punters attracting more than $6 billion in annual domestic wagering turnover, which is significantly more than any other state;

• The delivery of a broadcast model that allows Victorian racing to be viewed anywhere, anytime with the nation’s only free-to-air television sporting channel – Racing.com – broadcasting to more than 95% of the Australian population alongside seven digital broadcast partners;

• The continued investment in racing and training infrastructure across the state with over $36 million spent by RV, in association with the State Government, in the last five years on major track developments and surface upgrades;

• A stronger working relationship with Victoria’s three metropolitan Clubs and Country Racing Victoria underpinned by long-term media rights agreements and multi-year club funding agreements;

• A commitment to protect the sport’s social licence through enhanced investment in integrity and equine welfare and the development of strategies that ensure they are central to RV decision-making; and

• A record active ownership group which has risen to nearly 70,000 in 2017 with one-third residing outside the State and choosing to invest in Victorian racing.

Replacing the five retiring Directors are Brian Kruger, Rowen Craigie, Kate Joel, Sharon McCrohan and Ross Lanyon. The new Board will commence duties on 9 October 2017 with Mr Kruger appointed Chairman and Mr Hirst to assume the role of Deputy Chairman.