Churchill Downs Inc. (CDI) on Monday announced changes to the leadership
structure of its board of directors and executive management team, following the
planned retirement of current CDI chairman of the board Carl F. Pollard
effective June 16.
Pollard joined CDI’s board of directors in 1985 and has served as the
company’s chairman since 2001 when he replaced William S. Farish, who resigned
to become U.S. Ambassador to the United Kingdom under President George W. Bush.
During Pollard’s tenure, CDI completed the successful $121 million renovation of
Churchill Downs racetrack; entered the account-wagering business with the launch
of TwinSpires.com and the acquisition of additional advance-deposit wagering
platforms; and introduced casino gaming to the company’s portfolio of
businesses, with the construction of slot-machine gaming facilities in Louisiana
and Florida and the purchase of Harlow’s Casino Resort & Hotel in Greenville,
Mississippi.
A long-time horse racing enthusiast, Pollard runs Hermitage Farm, a
Thoroughbred breeding operation in Goshen, Kentucky, which he purchased
following the death of the farm’s original owner, Warner L. Jones Jr., the famed
horsemen who also served as chairman of CDI’s board of directors from 1984 to
1992. Under Pollard’s direction, Hermitage Farm has gone on to produce numerous
stakes winners, including a member of Pollard’s personal stable, Caressing, who
won the 2000 Eclipse Award as champion two-year-old filly after claiming the
Breeders’ Cup Juvenile Fillies (G1) at Churchill Downs that year. Pollard sold
Hermitage Farm in 2010 but continues to manage the Thoroughbred breeding
operation there.
“It has been both an honor and a pleasure to serve as chairman of Churchill
Downs Inc. 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. We have diversified our
holdings to help the company better address competitive challenges and thrive in
an ever-changing marketplace, while still growing the reach and relevance of our
iconic racing events, the Kentucky Derby (G1) and Oaks (G1), which continue to
set records for attendance and wagering. The horse racing industry has long been
my professional pursuit and personal passion. I am very proud of what we have
accomplished during my time as chairman, and look forward to what the future
holds for Churchill Downs Inc..”
“Carl Pollard has devoted much of his life to the improvement of Churchill
Downs Inc. and the Thoroughbred industry,” said Robert L. Evans, CDI’s president
and chief executive officer. “His vision, drive and commitment to our company
and his deep love of the sport of horse racing — particularly the Kentucky
Derby and Kentucky Oaks — are things I personally admire and hope to emulate as
I continue my career with the company. CDI’s board of directors, senior
management team, employees and shareholders everywhere owe a debt of gratitude
to Mr. Pollard for his clear direction, wise counsel and many years of service
to our collective cause. We will truly miss having him at CDI’s helm.”
A Kentucky native, Pollard began his career as a partner for the accounting
firm of Yeager, Ford & Warren in Louisville, which is now owned by
Pricewaterhouse Coopers. In 1968, he joined a small, but growing nursing home
business and was instrumental in its development into Humana Inc., now a
Louisville-based Fortune 500 healthcare company. He held various senior
positions within Humana, including president and chief operating officer from
1991 to 1993. Pollard was chairman and chief executive officer of Humana’s
hospital division, which was spun off into a new company called Galen Health
Care Inc. in 1993 and merged later that year with Columbia Healthcare
Corporation. Pollard served as chairman of Columbia until 1994.
Pollard is a member of The Jockey Club and currently serves on the boards of
DNP Select Income Fund, Duff & Phelps Utility and Corporate Bond Trust, and DTF
Tax-Free Income Inc. He is also a member of the University of Kentucky
Development Council board. Pollard is a graduate of the University of Kentucky
and was named to the Hall of Distinguished Alumni in 1995.
CDI’s board of directors has appointed Evans to succeed Pollard as chairman
of the board concurrent with Pollard’s retirement on June 16. Evans will assume
the title of chairman and chief executive officer for the company.
The CDI board of directors has appointed current director G. Watts Humphrey
Jr. as lead independent director of the board. Humphrey will assume his new
responsibilities on June 16.
The company also announced that William C. Carstanjen, who currently serves
as chief operating officer, has been promoted to president of CDI and will
assume the new role of president and chief operating officer effective
immediately. In his new role, Carstanjen will have oversight of all CDI business
segments, including the racing, online and gaming operating units. Carstanjen
will continue to report directly to Evans.