Churchill Downs Inc. (CDI) is mostly known as the site of the most exciting two minutes in sport, that being the Kentucky Derby. But as of late, it’s the company’s online presence as operators of TwinSpires.com and Youbet.com that has been boosting the bottom line. Certainly, CDI attributes a portion of the credit and has Carl F Pollard to thank, as he served as Chairman of the Board and helped lead the company to prosperity amidst tough economic times.
Pollard is now stepping aside as CDI restructures its management structure with current president and CEO Robert L Evans assuming the title of chairman and CEO, replacing Carl F Pollard who is expected to retire in June.
Evans joined CDI as president and CEO in August 2006 and has been primarily responsible for the company’s diversified growth strategy.
“It is an honour for me to have the opportunity to follow in the footsteps of prior chairmen such as Warner L. Jones Jr., Will Farish and Carl Pollard who have so ably led Churchill Downs Incorporated through the defining moments that shaped our company and the Thoroughbred industry over the last few decades,” said Evans in the release.
“They’ve set the standard for leadership I hope our entire management team will emulate.” Evans added. CDI certainly needs a strong and capable leader right now.
It will be interesting to see how Evans handles the current litigation against CDI stemming from Illinois Harness Horsemen’s Association, Balmoral Park and Maywood Park have and their $3.6-million lawsuit against Churchill Downs (CDI). The lawsuit alleges that the racetrack giant is in breach of contract in regard to its recently-acquired advance-deposit wagering provider.