Mark Verge Named Stronach Group CEO Following Greg Avioli's Resignation
L.A. entrepreneur and horse owner MARK VERGE “has been appointed to a senior position at the Stronach Group,” according to Matt Hegarty of the DAILY RACING FORM. Verge will “fulfill some of the duties that were handled" by former CEO GREG AVIOLI, who resigned Wednesday 11 months after being hired. The Stronach Group said that Avioli’s resignation “would be effective April 1.” Verge’s duties will “include overseeing all operations of Santa Anita.” Verge said that he “would receive equity in the company as part of his hiring.” He also called the racetrack “his passion” and said he would look to “shake things up” (DRF.com, 3/15). BLOODHORSE’s Jack Shinar reported Verge is “planning to be introduced...at a St. Patrick's Day celebration at his popular bar, Casey’s Irish Pub in downtown Los Angeles” (BLOODHORSE.com, 3/15). Avioli in a statement said he “felt it was the right time to move on to new business ventures outside the company.” DAILY RACING FORM’s Hegarty noted Avioli’s departure is “consistent with a pattern of revolving-door managers at Stronach-controlled companies that have owned the racing assets since the late 1990s.” Avioli served as Breeders’ Cup President for five years before accepting the position with the Stronach Group (DRF.com, 3/14).