Fasig-Tipton Restructures Management

Fasig-Tipton Restructures Management
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Fasig-Tipton has restructured its senior management team, it was announced Sept. 2. The changes include the addition of one of Sheikh Mohammed’s key employees in America, Dan Pride, to the auction firm’s executive ranks.

D.G. Van Clief Jr., Fasig-Tipton’s chairman of the board under the company’s previous ownership, is the new chairman emeritus, continuing in his non-executive role as a senior advisor. Walt Robertson, the former president, assumes the title of chairman and continues in his full-time role with an emphasis on client development, auctioneering, and key strategy decision-making. Boyd Browning, formerly the executive vice president and chief operating officer, is Fasig-Tipton’s new  president and chief executive officer and assumes responsibility for day-to-day operation of the company.

Pride, formerly the chief operating officer of Sheikh Mohammed’s Darley USA, joins Fasig-Tipton as its executive vice president and chief operating officer.

“I’m very excited; I’m enthused; and I’m very pleased to have Dan joining our team,” Browning told The Blood-Horse. “He‘s been a star in our industry in recent years. He has very good people skills; he’s a very good thinker; and he’s very customer oriented. He will make a great team even better. We’re fired up.”

And there could be other additions to Fasig-Tipton’s staff in the future.

“If we see an opportunity to hire someone we think will strengthen the company, we will make an addition,” Browning said. “Our goal is to improve everything we do which is likely to require additional personnel.”

A press release issued by Fasig-Tipton included comments by Van Clief, and Robertson, and Browning, who said the company’s management would be “taking a fresh look” at all its operations.

Said Van Clief: “These appointments are the culmination of a process which has been under way within the company for some time now and accurately reflect the jobs being accomplished by our key managers. The addition of Dan Pride adds strength to the lineup as Fasig-Tipton prepares to ramp up operations under its new ownership. Walt and Boyd should be congratulated for their effective leadership over the years, and the new titles appropriately reflect the senior status they have earned as well as the jobs they do.”

Added Robertson: “We are excited to commence a new chapter in Fasig-Tipton’s history and believe the best is yet to come.  Our focus will continue to be on our customers, both buyers and sellers, and that focus can become even sharper with greater resources at our disposal.”

Dubai-based Synergy Investments purchased Fasig-Tipton in May of this year. Synergy is headed by Abdulla Al Habbai, a close associate of Dubai’s ruler, Sheikh Mohammed.

Darley also announced that Olly Tait, the current managing director of Darley Australia, will take over Pride’s position at Darley USA.

“Olly brings with him international experience, having served at the highest level in Europe and Australia,” said Darley’s John Ferguson. “He has looked after Sheikh Mohammed’s bloodstock operations in Australia very successfully and has been instrumental in the development of Darley in that region.”

Tait said: “I am hugely fortunate to be given this opportunity by Sheikh Mohammed, and I am looking forward to the fresh challenges that the role will bring.”

 

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