Melbourne Racing Club Restructures Management, Execs Lose Jobs
Execs at Australia's wealthiest racing club "have lost their jobs as big business takes over," according to Rod Nicholson of the HERALD SUN. Melbourne Racing Club "runs Caulfield and Mornington and owns Sandown." In recent years "it has taken over 743 poker machines at 12 pubs and clubs," engaged in a A$100M ($105M) "property development around the Caulfield racetrack and built other enterprises to add to the core racing and training business." The club "is dismantling racing administration and preparing to replace it with three departments." One "will look after the pubs, clubs and poker machines, one will concentrate on the property portfolio, and the third on racing and training." The imminent changes have cost CEO Alasdair Robertson, CFO Wayne Sumner and Marketing & Racing GM Frazer Byrne their jobs. Robertson, 56, will remain until July 1. It is "not known who will replace him, and what influence he will have." However, under the new structure, the racing CEO "will be one of three to report to an overall boss." That may well be committee man and honorary treasurer Brodie Arnhold, who "has spent the past two months in a full-time role formulating a new management structure" (HERALD SUN, 4/9).