A restructuring of the the Executive of the British Horseracing Board was announced today as the organisation gears itself for the challenges ahead of the British Government's planned abolition of the Horserace Betting Levy Board and the stautory levy mechanism and the sale of the Tote to racing.
Chief executive Tristram Ricketts takes up the new position of secretary general while a newcomer to racing, Chris Reynolds, will be handed the reins as managing director in July. Both will work hand in hand with BHB chairman Peter Savill.
43-year-old Reynolds will have responsibilty for strategy and all commercial matters as well as racing, marketing, communications, finance and personnel departments.
Meanwhile, Ricketts, who takes up his appointment as one of the three BHB nominees to the Levy Board next month, will have as his responsibilities Board administration and all political and legislative issues, including the sale of the Tote, the abolition of the Levy Board and the Gambling Review.
He will continue to report direct to Savill and the Board and will work with both Savill and Roberts on the Future Funding Plan for racing and all international matters.
Savill today announced his delight at the Board having secured the services of Reynolds who, he believes, will be a "very valuable addition to BHB's management".
"I am convinced now that we have a senior executive team that can lead British racing in the post-Levy era, backed up by many other talented individuals at the BHB who serve racing with such commitment," he said.
"The racing environment has changed significantly since BHB was established seven years ago and even bigger changes are in prospect.
"The BHB board believes that the new structure will better enable racing's governing authority to meet the challenges ahead.
"An increasingly commercial and marketing-oriented approach is now more vital than ever."
Reynolds brings to the BHB a strong marketing and commercial background as well as sales, licensing, trademark, copyright, sponsorship contract and endorsement experience.
Before forming and becoming managing director of marketing company Pegden Reynolds which was involved in the sports and leisure market, he had previously worked for Dunlop Slazenger, Reebok International and Pringle of Scotland among others.
"I am greatly excited at the opportunities currently opening up to racing," he said.
"I look forward immensely to working with Peter, Tristram and the BHB team on the developement of a focused strategic approach to the tasks ahead.
"I hope that my exposure to the more overtly commercial side of sport and leisure for the past 18 years will enable me to contribute positively to the evolution of both the BHB and the racing industry."
Ricketts described himself as "comfortable" with his new role which many will see as a sideways move.
"The Board has recognised that, in this rapidly-changing environment, BHB is under-resourced and, in particular, needs a significant strengthening of commercial capabilities," said Ricketts.
"I'm entirely comfortable about the change. Peter has involved me throughout the process of review.
"The BHB is operating in a very different environment to the one it was operating when we started seven years ago. The changes now in prospect recognise a new commercial focus at the top.
"My senior colleagues and I who have met Chris Reynolds have been impressed by him as I know the directors have.
"I'm sure that his appointment will lead to a much more-focused structure which will meet the needs that we are going to need to meet in the next stages of BHB's and racing's development."
