Five candidates will battle for three board positions as voting opens for elections at the Brisbane Racing Club, which is continuing its search for a new CEO.
Voting opened on Wednesday for the elections where Jennifer Creaton, Curt Schatz and Steve Gagel are looking to be voted back on the board by the members, with their existing terms set to expire.
Gagel, who has been chair of the finance, governance, and risk Sub-Committee for 10 years, has played a key role on the board in the $1.5 billion Brisbane Racing Club master plan. He has been on the board since 2013.
Creaton, whose professional career is as an insurance risk management executive, has been on the board since 2018, while Schatz, a lawyer, joined the board in 2015.
However, they will have to see off the challenge of Tracy Alba and Kate Davies, who are also contesting.
Davies, an active member of the BRC since 2022, is the current CEO of Netball Queensland, while Alba works as an executive in the aviation and tourism industries.
There is also a fourth pending vacancy on the board after the departure of Simon Gleeson, but that is set to be filled as a casual vacancy, rather than through the election process.
Voting is open until October 15 and the results of the ballot are expected at next month’s AGM, on October 16.
The competitive election process comes at a time that the BRC is searching for a new CEO after the sudden departure of Tony Partridge from that role in July.
Long-serving chairman Neville Bell said in the club’s annual report released this week that a search for Partridge's replacement has begun.
“Tony concluded his role in late July and the board thanks him for his strategic guidance and professional management of our complex business. We wish him well in the next chapter of his career,” Bell said.
“The board commenced a recruitment search in early August for a new CEO. In the meantime, CFO David Koch has stepped into the Acting CEO role. We thank David for taking the reins while the recruitment process unfolds.”
Jeff Kahler, the General Manager Property, departed his role at the end of June having spent 10 years working on the Master Plan, which involved the Ascot Green project.
“Jeff drove a game-changing property development project that unlocked financial opportunities on land deemed non-core for racing. We thank Jeff for his excellent work across the decade,” Bell said.
Adam Lambert replaced Kahler and began his new role on August 5.
“Adam will quickly get his feet under the desk and come up to speed with the many ongoing projects in the Master Plan and the major infrastructure upgrades at both tracks, prioritising the John Power Stand replacement,” Bell said.
The annual report featured record BRC revenue of $73.9 million, although $6.3 million of that came via the forgiveness of a loan from the state government and Racing Queensland.
Leaving aside that amount, the $67.6 million revenue is only slightly down on last year, while the Club returned an overall profit of $1.8 million, having incurred a $1.9 million loss last year.
“Pleasingly, management are delivering good results in reducing the annual operating losses for our core racing business,” Bell said.
“As reported during the year, metropolitan clubs around Australia struggle with The BRC’s reported revenue of $73.9m is a club record … sustaining viable racing business without financial assistance from State Governments or establishing strong non-racing revenues from diversified business models.”
Bell, who is set to retire from his role as chairman in early 2025, put particular focus on the redevelopment of the Eagle Farm grandstand.
“While the Club has a healthy financial outlook, much will depend on replacing the dilapidated John Power Stand and reinvigorating the Members’ and patrons’ facilities at Eagle Farm,” he said.
“The John Power Stand, built in 1956 with a 50-year lifespan, is nearing the end of its safe life. The Club is in discussions with Racing Queensland and the State Government on funding options.”
Vice-chairman Richard Morrison, who works in property and real estate, is widely expected to replace Bell when he departs.
