Mar 25, 2011
Churchill chairman retires, Evans promoted
By: SPORTS NETWORK
Louisville, KY (Sports Network) - Carl F. Pollard, chairman of Churchill Downs Incorporated (CDI) will retire and be replaced by Robert L. Evans. The change in leadership will occur on June 16, 2011.
CDI announced Monday that Pollard will not stand for reelection as chairman of CDI's board of directors, a position he has held since 2001. He will also retire from the board of directors after more than 25 years.
"It has been both an honor and a pleasure to serve as chairman of Churchill Downs Incorporated and as a member of its board of directors during a period of significant change and expansion for the Company," Pollard said. "CDI has evolved from a racetrack in Louisville, Kentucky, into the premier racing, gaming and entertainment company in the United States."
Evans, CDI's current president and chief executive officer, will succeed Pollard as chairman of the board and assume the title of chairman and chief executive officer for the company.
"It is an honor for me to have the opportunity to follow in the footsteps of prior chairmen such as Warner L. Jones Jr., Will Farish and Carl Pollard who have so ably led Churchill Downs Incorporated through the defining moments that shaped our Company and the thoroughbred industry over the last few decades," Evans said. "They've set the standard for leadership I hope our entire management team will emulate."
Along with the change in board chairman, chief operating officer William C. Carstanjen has been promoted to president of CDI, effective immediately. Carstanjen will continue to report directly to Evans and remain as COO.
"It has been a privilege to be part of the leadership team that charted CDI's continued expansion and profitability in recent years," Carstanjen said, "and I am proud of the team's accomplishments."
Finally, G. Watts Humphrey Jr. has been appointed Lead Independent Director of the Board at CDI. A member of CDI's board of directors since 1995, Humphrey will assume his new responsibilities on June 16.
"I look forward to assuming this new leadership role on the board of directors and serving my fellow directors and our company's shareholders in this capacity," Humphrey said. "Thanks to the vision, commitment and sound choices of retiring Chairman Carl Pollard, CDI is well positioned for continued growth under our new chairman-elect and his talented management team."
In his new position as lead independent director, Humphrey will be responsible for board governance matters; board membership, recruiting and succession planning; committee assignments; serving as the point person for the independent directors; establishing agendas for board meetings and serving as the main liaison between the board and chairman and chief executive Robert L. Evans.
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