The committee formed to seek a replacement for Breeders’ Cup president and CEO Greg Avioli has engaged executive search firm Spencer Stuart to manage the process, the Breeders’ Cup announced March 28.
Avioli resigned earlier this month to take a position as president and CEO of the racing and gaming division of MI Developments, a racetrack operating company controlled by Frank Stronach.
Search committee chairman and Breeders’ Cup director Tom Ludt said Jed Hughes, a senior partner in Spencer Stuart’s sports business practice who led the search six years ago that led to Avioli’s appointment, will direct the search.
“The position has attracted so much initial interest from inside and outside our industry and the selection is of such vital importance to our organization that the committee wanted to utilize the best professional resources available to assist with this process,” said Ludt.
Any inquiries regarding the search should be directed to Hughes at Spencer Stuart and not to the committee members, Ludt said.
According to the announcement, the committee did not set a firm timeline for the search but expects it should be completed by July and clarified that the position will be based at the Breeders’ Cup headquarters in Lexington.
In addition to Ludt, Breeders’ Cup directors Helen Alexander, Antony Beck, Jerry Crawford, and Richard Santulli are on the search committee.
During the search process, Breeders’ Cup COO/CFO Matthew Lutz and Breeders’ Cup senior vice president of sales Carter Carnegie are overseeing the company’s day-to-day business operations.