You are using an older browser version. Please use a supported version for the best MSN experience.

NZ racing boss to stand down

NZ Newswire logoNZ Newswire 17/02/2017

New Zealand Thoroughbred Racing is on the hunt for a new chief executive following Greg Purcell's resignation.

Purcell, who has been in the position for six years, will stand down at the end of the current racing season.

NZTR chairman Dr Alan Jackson said Purcell had worked with "total dedication" in the role.

"Greg deserves acknowledgement for the significant improvements to NZTR and our sport which he has led," Dr Jackson said.

"Under his tenure as chief executive, NZTR has delivered six successive years of increased aggregate and average prize-money funding.

"He has also produced five years of surpluses and rebuilt NZTR's cash reserves - despite stagnant NZRB distributions - by improving operating efficiencies and maintaining strong cost control within NZTR."

Purcell said he advised Dr Jackson 12 months ago he believed it was time for someone else to take over as chief executive.

"Last June, at the request of Dr Jackson, I agreed to stay on for a further 12 months to work with the NZTR board on industry-changing pathways," Purcell said in a statement.

"I'm proud of the achievements of the hard-working and passionate NZTR team, which over the last six years has returned our code's operations to financial sustainability.

"My team has ensured NZTR operated within its means and provided a structure of prize money and racing activities that were fully funded from revenue."

Purcell said that although the industry faced challenges, there were still opportunities for significant improvement.

image beaconimage beaconimage beacon