Carstanjen named CEO at CDI; Evans continues as chairman of
the board of directors
The board of directors of Churchill Downs Inc. (CDI) named William C.
Carstanjen as the company’s 12th chief executive officer (CEO), a position held
by Robert L. Evans since August 2006. Carstanjen has been the company’s
president and chief operating officer since March 2011.
Evans will continue as chairman of the board of directors and will continue
his full-time, daily involvement in the leadership of the company focusing on
strategy, acquisitions, senior management selection and development, technology
initiatives, legislative initiatives, and the iconic
Kentucky Oaks and
Kentucky
Derby events.
Over his career, Carstanjen, 46, spent 5 1/2 years as an attorney at Cravath,
Swaine & Moore in New York and five years at General Electric Company (GE) in
Connecticut. Since joining CDI in July 2005, Carstanjen has served as the
company’s general counsel and chief development officer (2005-2008), as chief
operating officer (2008-2011) and, most recently, as president and chief operating
officer.
He has led CDI’s diversification strategy into online wagering on
Thoroughbred racing via TwinSpires.com, including the acquisitions of Youbet.com,
AmericaTab, and Bloodstock Research Information Systems (BRIS); the growth of
the Kentucky Oaks and Kentucky Derby events; and into regional casino gaming.
“I am deeply honored to have the opportunity to lead Churchill Downs,”
Carstanjen said. “Over the last several years we have transformed Churchill
Downs into a diversified growth company while continuing to strengthen and
invest in our traditional horse racing business.
“Today, CDI is better positioned strategically and operationally, and is
stronger financially and organizationally, than perhaps at any time in its
140-year history. I’m excited about our terrific team and the future of our
racing, gaming and online businesses and new businesses we may yet enter.”
In addition, William E. Mudd has been promoted to president and chief
financial officer (CFO). Mudd has served as the company’s executive vice
president and CFO since joining CDI in October 2007. Mudd will be responsible
for operations at the company’s race tracks and gaming properties, except for
Churchill Downs Racetrack, and for all finance activities, corporate-level
communications and investor relations. He will report to Bill Carstanjen.
Prior to joining CDI, Mudd, 43, spent 15 years at GE in multiple businesses
inside and outside the United States. Since joining the company, Mudd has been responsible
for all of CDI’s financial activities, managing the company’s capital structure,
leading CDI’s information technology group (2007-2011), and, since 2011, leading
the company’s business development activities.
“Having worked in finance for most of my career, I appreciate this
opportunity to expand my experience in the operations area,” Mudd said. “The
vast majority of our employees are at our tracks and casinos and I look forward
to working with them to continue CDI’s success.”
“CDI’s future is exciting and I look forward to continuing to work with these
outstanding leaders,” Evans said. “We operate under a collaborative senior
leadership model and have frequently changed our organizational structure to
allow our executives to develop experience in new areas. This approach has
served us well, enabling us to diversify and grow the company.
“In Bill Carstanjen and Bill Mudd we have two proven senior executives who
are well known by our major shareholders and who can continue to profitably grow
the company and deliver exceptional returns to our shareholders.”
Evans, Carstanjen and Mudd will assume their new roles beginning Thursday.
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