Chief Financial Officer Exits NYRA
by Tom Precious
Date Posted: 1/21/2009 1:41:59 PM
Last Updated: 1/22/2009 10:40:24 AM
The New York Racing Association’s top fiscal executive has left, but the corporation is declining to provide any explanation or to say whether the departure was voluntary.
Irene Posio, who served as NYRA’s chief financial officer, left the payroll as of January 20, NYRA spokesman John Lee confirmed.
“She’s no longer with the company. We’re not going to comment any further,’’ Lee said.
Posio joined NYRA from a New York City publishing company in 2004 when she was hired as controller and treasurer. A year later, she was made CFO. Lee declined to provide her salary.
NYRA still has not yet had its 2009 budget approved by a state government panel that oversees its finances. Posio in December assured the panel that NYRA would break even in 2009 – the first time it would operate in the black since 2000. But the oversight panel still had a number of questions – including about salary levels of NYRA staff – about NYRA’s numbers and deferred final approval of its budget until the issues were resolved.
Posio could not be reached for immediate comment.
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