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Newbury Racecourse PLC on Wednesday said its chief executive officer will step down in the new year, prompting a search for a successor.
The Berkshire, England-located sporting and events venue said Julian Thick agreed to remain in post as CEO until March 31, 2024 to assist in the search for a successor and hand over his responsibilities.
Newbury Racecourse said the search for a successor comes as it ‘continues into the next phase’ of its development.
Chair Dominic Burke said: ‘On behalf of the board, I would like to thank Julian for his contribution to the company over the last 10 years. Since joining as chief executive in 2013 Julian has led the company with real purpose and helped the racecourse navigate the considerable challenges of the racecourse infrastructure redevelopment and Covid-19.
‘Under his direction we have built a world class racing facility and increased prize money available to owners. The racecourse is in good financial health and we wish Julian well in the future.’
Outgoing CEO Thick added: ‘Together we have achieved a huge amount, the racecourse has been transformed and is now on a strong footing with a very positive future ahead of it. It is my intention to take some time out with my family next year before seeking a new challenge.’
Shares in Newbury Racecourse were quoted at 795.00 pence each on the Aquis Stock Exchange in London on Wednesday morning, having last traded at 800.00p each on July 28. In the last 12 months, the stock is down 4.8%, reaching a low of 755.00p in June.
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