Churchill Downs has appointed William Carstanjen as its new chief executive officer. Carstanjen has worked in various roles, including president, since joining the company in 2005. He will replace outgoing CEO Robert Evans.
Evans will continue as board chairman and will have full-time, daily involvement in the leadership of the company, according to a statement from Churchill Downs.
“I am deeply honored to have the opportunity to lead Churchill Downs,” Carstanjen said in a statement. “Over the last several years we have transformed Churchill Downs into a diversified growth company while continuing to strengthen and invest in our traditional horse racing business. Today, CDI is better positioned strategically and operationally, and is stronger financially and organizationally, than perhaps at any time in its 140-year history.”
Carstanjen has been with Churchill Downs since 2005, having served various roles in the company including general counsel, chief development officer and chief operating officer before becoming president and COO. He was instrumental in the acquisitions of Youbet.com, AmericaTab, and Bloodstock Research Information Systems. He was also responsible for setting up TwinSpires.com and has overseen the growth of the Kentucky Oaks and Kentucky Derby races.
Churchill Downs also named William E. Mudd to take Carstanjen’s place as company president while retaining his chief finance officer title. Mudd will be in charge of all finance activities, corporate-level communications and investor relations, as well as operations at the company’s race tracks and gaming properties with the exception of Churchill Downs.
“Having worked in finance for most of my career, I appreciate this opportunity to expand my experience in the operations area,” said Mudd. “The vast majority of our employees are at our tracks and casinos and I look forward to working with them to continue CDI’s success.”
Former CEO Evans said CDI’s future is “exciting.”
“In Bill Carstanjen and Bill Mudd we have two proven senior executives who are well known by our major shareholders and who can continue to profitably grow the company and deliver exceptional returns to our shareholders,” he said.
