James E. "Ted" Bassett III, who joined the Keeneland Association in 1968, has retired as chairman of the Lexington auction and racing company. The annoucement was made during the annual Keeneland board of directors meeting Wednesday.
Bassett joined Keeneland in 1968 and has served as president and chairman of the board, respectively, the last 33 years.
"It is an appropriate time to retire with the young, talented,and new team making excellent progress and assuming full responsibility for the Keeneland operation," Bassett said. "We have every confidence in their ability to succeed."
Bassett will continue to serve as a trustee, and will remain on the board of directors. There was no mention as to a replacement.
In 2000, Nick Nicholson was named president of Keeneland when Bill Greely retired from that position.