MRC Chairman to Retire

The Chairman of the Melbourne Racing Club, Mr Peter Young, has announced his intention to stand aside from that position and also to retire from the Committee of the Club, effective from Bletchingly Stakes Day on 31 July 2010, the last day of the current racing season.

Mr Young was first elected by the Members to the Club’s Committee in November 1989 and has given 21 years of loyal and devoted service. He was elected Vice Chairman of the Club in 1999 and served six years in that role before his election to Chairman in 2005.

“The successfully negotiated merger of the Melbourne Racing Club and the Mornington Racing Club and the required restructuring of the Club’s Executive provided the ideal opportunity for me to elect to stand aside as Chairman and retire from the Committee,” Mr Young said.

“The Melbourne Racing Club has a very strong and effective Committee with a solid and enthusiastic team of Executives led by newly appointed Chief Executive Officer Alasdair Robertson, and this team will be complemented by the additions made from the Mornington Racing Club,” he added.

Mr Young is proud that, under his Chairmanship, the Club achieved success in developing and expanding its commercial revenue streams and assets. Mr Young has overseen the development of the Club’s Master Plan for Caulfield and also the pending acquisition of several hotel leases throughout Victoria. The Club also owns and operates two of the states most successful Tabaret venues at Caulfield and Highways at Sandown Park

During Mr Young’s tenure, the Melbourne Racing Club has continued to enhance the profile of the BMW Caulfield Cup internationally and the Asian Mile Challenge, improved the Membership offerings and services provided to Members whilst overseeing the Club becoming one of the most financially secure race clubs in Australia.

Mr Young further added “I have greatly enjoyed my time with the Club and its Members, the industry participants and the racing public with whom I have been able to spend time with. I have received very strong support from my current Vice Chairman and Treasurer and they remain available and committed to the further development and strengthening of the Club and its Membership base”.