As part of the previously announced Structure Review, and in the light of its increased commercial activities, the BHB has decided to revise its executive structure.
The role of Chairman will become non-executive following the appointment, in due course, of a full-time Chief Executive who is currently being recruited. BHB is also creating a new role of Managing Director, Commercial with the specific remit of managing the BHB’s commercial activities. These activities will, in all probability, be conducted through a separate subsidiary company.
Given all the impending changes in the BHB’s role including the transfer of Levy Board funding responsibilities and the introduction of commercial data licensing to replace the statutory levy, the Board confirms its full support for the current Chairman, Peter Savill, who has agreed to a further two-year term as Chairman when his present term expires in June 2002.
Although the role will initially be executive, it will become non-executive once the new Chief Executive is able to assume fully the responsibilities of the role.
The BHB is pleased to announce the appointment of Nigel Smith as Managing Director, Commercial effective immediately. Nigel (age 44) originally qualified as a Chartered Accountant with PricewaterhouseCoopers. As well as experience with new ventures, he has experience with major corporates such as Hilton Group, where he was Group Corporate Planning Manager, and the Storehouse Group where he was Commercial Director for Bhs. Most recently he was CEO of Whereits.at Entertainment Holdings plc.
Peter Savill said: “In order for the racing industry to flourish in the post-Levy era, it is vital that we build an executive team which can develop the strategy for the future and generate the income streams that will flow from the licensing of our rights. I have no doubt that Nigel will contribute strongly towards these objectives.”
“Personally, I am delighted to extend my Chairmanship for a further two years to oversee this development as well as ensure that the right financial structure is put in place. I look forward to continuing to work with the Board to see that we achieve our goals”.
The Executive team reporting to the Chief Executive is therefore now almost complete and will be:
Managing Director, Commercial Nigel Smith
Secretary-General Tristram Ricketts
Finance Director James Halley
Racing Director Trevor Beaumont
Marketing Director Being recruited
ENDS.
