Racecourse Media Group (RMG) announced on Monday that its chief executive, Martin Stevenson, has asked the Board to start the process of finding his successor.
RMG is the holding company responsible for a range of media rights management businesses. It is owned entirely by its 37 racecourse shareholders, giving the racecourses complete control over the commercialisation of their media and data rights.
It is anticipated that Stevenson, who joined RMG in 2007, will step down from the role he's held since 2020 at the end of the year.
“I have a significant birthday approaching and I think now is the right time for me to relinquish the role and enable the business to put in place its leadership in plenty of time ahead of the next rights renewal cycle,” said Stevenson.
“It has been a huge honour and privilege to have been involved in the RMG project. Having joined as finance director when it was still a start-up, to helping it grow to become the largest funding organisation in British horseracing, it has been an exciting and engaging journey. The business has achieved a great deal in reclaiming control of our racecourses' media and data rights and has created real substantial commercial success for the industry, having now delivered more than £1.2bn to the industry.
“The industry undoubtedly has some challenges, but RMG is an excellent example of what can be achieved when the industry comes together in the right way with clear focus, commitment and good governance.”
Conor Grant, chair of RMG, added, “Martin has made an enormous contribution to Racecourse Media Group over the last 17 years, serving with great distinction as chief financial officer for 13 years and as chief executive since 2020.
“He has been a great ambassador for RMG and leaves the business in rude health and with exciting plans to ensure our continued growth. I would like to thank Martin for his wonderful service and dedication to the business and, on behalf of the board and all RMG shareholders, we wish him every success in the future.”
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