Churchill Downs CEO Bob Evans adds chairman title, replacing Carl Pollard - Louisville Courier-Journal

Monday, 21 March 2011 18:26 administrator
Print

She said companies take into account many factors in establishing the corporate structure, including succession plans.

Carstanjen, when asked if the changes mean hes Evans heir apparent, said, This just means Im the president and were focused on the now and the strategy for business

going forward. So those are the subjects that I confine myself to and thats my focus going forward. Evans contract runs through 2016.In his new role, Carstanjen will oversee all Churchill business segments and report to Evans. Previously, the companys online operations were overseen by a vice president who reported to Evans. That vice president, Rohit Thukral, now will report to Carstanjen.For the companys employees, the change at the top is important but will be a continuation of what they see now, Carstanjen said.In terms of their day-to-day rhythms, I dont think theyll see a big change, Carstanjen said. I dont think they expect to see a big change. We function very much as a team and thatll continue.The board term for Pollard, 72, is up this year. In 2009, Churchills board adopted rules that would allow directors older than 70 to seek a new term and waive a mandatory retirement rule.But I elected for them not to waive it, Pollard said in a telephone interview.The Churchill board also appointed current director G. Watts Humphrey Jr. as lead independent director of the board.Penns Fisch said thats a common move for companies as a substitute for the divided chairman-CEO structure.If you dont want to have a separate chair position, having a lead independent director means youve got somebody out there whos kind of taking ownership of the board or of the independent directors perspective, she said.Humphrey lives in Pittsburgh but has a farm in Harrodsburg, Evans said.Despite the title changes, Evans said he will continue to be the Churchill official presiding with Kentuckys governor at the presentation of the Kentucky Derby trophy. For decades that has been done by someone with the title of president. For most of that time, the track president was the corporate CEO.Pollard, who has been on the board since 1985, said the companys diversification makes it well positioned for the future. A daily regular when racing is conducted at the Central Avenue track, Pollard said he plans to keep my perfect attendance pin intact.I dont know anybody who loves the Kentucky Derby more than Mr. Pollard, Evans said. From the moment he and I first met until this moment and Im sure for all the remaining moments we have together, that is his passion.Reporter Gregory A. Hall can be reached at (502) 582-4087.

Powered By WizardRSS.com | Full Text RSS Feed | WordPress PluginHud 1

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHFo7JCHFQv6PdgiI42n-O8W1AmNQ&url=http://www.courier-journal.com/article/20110321/BUSINESS/303210050/Churchill-Downs-CEO-Bob-Evans-adds-chairman-title-replacing-Carl-Pollard?odyssey=nav%257Chead

< Prev   Next >