James E. (Ted) Bassett III, who has helped lead the Keeneland Association for the past 33 years, retired as chairman of the board Wednesday morning at the Keeneland board of directors meeting.He will continue to serve as one of three Keeneland trustees and a member of the board of directors.Bassett joined Keeneland in 1968 and served as president and chairman of the board since that year. He was succeeded as president by Bill Greely, who has also since retired. Nick Nicholson is the current president of Keeneland."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 in a release. "We have every confidence in their ability to succeed."Elected to the Keeneland board were veterinarian and Longfield Farm owner Gary Lavin, Taylor Made Farm and Sales Agency partner Duncan Taylor, and Eaton Sales partner Reiley McDonald.