Tom Ludt will leave his position as president of Vinery Farms, which is being sold, to become a senior vice president for Frank Stronach's racetrack and casino ownership company The Stronach Group.
In accepting the new position, Ludt said he will not run for re-election as chairman of the Breeders' Cup, although he does plan to remain in the position of director. To ensure there will be no conflict of interest, Ludt will recuse himself from any vote of the Breeders' Cup board that involves future host sites for the event.
Breeders' Cup President Craig Fravel said a new chairman will be determined after a new board is seated in July.
"On behalf of the Breeders' Cup members and our board of directors, we congratulate Tom on his new position with The Stronach Group and thank him for his outstanding work as Breeders' Cup chairman," Fravel said. "Tom's remarkable leadership, accomplishments, and his desire to make the Breeders' Cup World Championships the best event in sports will be difficult to replace. We wish him well in his new endeavor and look forward to his continued service to the Breeders' Cup."
Ludt has been president of Vinery since 2004. In that role he oversaw the significant breeding operations Vinery owned in Kentucky, Florida, and New York. During his tenure, he recruited numerous stallion prospects to stand at all three locations. Ludt also led the racing division, which produced a number of grade I winners including a Breeders' Cup winner and an Eclipse Award winner.
Besides serving as Breeders' Cup chairman, Ludt sits on numerous Breeders' Cup sub-committees: Governance, Compensation, Finance & Audit, Racing and Nominations, Marketing, and Race Day Medication.
Stronach Group chief executive officer Alon Ossip said Ludt's experience will serve Stronach Group well.
"We are extremely pleased to have a person of Tom's knowledge and stature as a key part of our team," Ossip said. "He will be a great asset to us as our group continues to expand within the industry."
Ludt is looking forward to the challenge.
"I am really excited about this new position and honored that The Stronach Group has the confidence in my knowledge and ability to assist them in advancing the sport of Thoroughbred racing and gaming," Ludt said. "My passion for the Thoroughbred industry has led me through many doors and this great opportunity is too good to pass up. I can't wait to get started."
Ludt is a Thoroughbred Owners and Breeders Association board member and a former member of the Kentucky Horse Racing Commission.
Tom Ludt
