The Australian Turf Club has axed almost all of its executives as part of a “crucial restructure” aimed at saving money and “modernising” the business.
Four top-level executive general managers and six other staff were made redundant at the club’s Randwick Racecourse offices this week.
“The Australian Turf Club has implemented a crucial restructure to modernise its operations for the future benefit of Sydney racing,” ATC chairman Peter McGauran said.
The four executive general managers follow recently departed chief executive Jamie Barkley, who resigned in April.
Together, the executive team was paid more than $4 million, with Mr Barkley’s salary understood to be almost a quarter of that.
ATC chairman Peter McGauran. Picture: Richard Dobson
Last year the ATC, which runs events and hospitality at Sydney’s four racecourses at Randwick, Rosehill Gardens, Canterbury Park and Warwick Farm, made an operating loss of $7 million.
“A new, streamlined management structure will ensure ongoing financial sustainability during a tightening economy,” Mr McGauran said.
“This marks the new way of how the ATC will be doing business, a leaner organisation which is adapting to commercial realities.”
Executive general manager for commercial Melinda Madigan, for customer experience Jane Coles, for people and culture Melissa Richards and for infrastructure Graham Brown have all gone.
General Manager for Racing and Wagering James Ross has kept his job and remains responsible for racing and wagering but has lost his Executive title.
“Matt Galanos remains Acting CEO and with the ATC Board’s support will oversee the new management structure,” Mr McGauran said.
The bloodletting is the biggest shake-up the organisation has seen since it was formed by the merger of the Australian Jockey Club and Sydney Turf Club in 2011.
“The restructuring represents a crucial shift to a sharper focus on growth and new audiences that will shape the future of our club and Sydney racing,” Mr McGauran said.
The organisation employs almost 300 full-time staff and more than 1000 casual staff across its four venues.
However critics say it has failed to maximise non-race day events at the venues other than the new $47 million Winx Stand at Randwick.
Mr McGauran said new races including The Everest and The Golden Eagle were showing the way forward for the racing industry.
He said the restructure ”allows the ATC to continue to play a pivotal role in hosting world-class racing and managing training centres at its racecourses.”
“Sydney is a leader in Australian racing and these changes keep us in a position to grow for further success,” he said.