Nevin Truesdale to step down as chief executive of Jockey Club at the end of the year

Jockey Club chief executive Nevin Truesdale will step down as chief executive of the racecourse group by the end of the year, having led the organisation through a turbulent period dominated by financial pressures caused by affordability checks, falling attendances and rising costs.

Truesdale, 50, said it has been a “true privilege” to work for the Jockey Club, British racing’s largest commercial group, adding that he would remain in his role while a successor was found.

There had been speculation over Truesdale’s future at the Jockey Club, which he joined in 2013 from British Gas as group finance director, following a financially disappointing Cheltenham Festival and with unrest spreading through a portion of the club's membership.

The four-day meeting is the Jockey Club’s flagship event and a major source of income, but crowds were down by 11,000 across the week with complaints raised over the cost of attending, while concerns were voiced about the competitiveness of the racing.

The financial hit led the Jockey Club to reduce its executive contribution to prize-money for the remainder of 2024, with five Premier racedays forfeited as a consequence.

Truesdale was promoted to chief executive in 2021 having held the position on an interim basis following the departure of Delia Bushell in August 2020 after a report upheld bullying complaints against her. 

During his tenure, Truesdale has overseen the running of the Cheltenham Festival and Derby behind closed doors due to the coronavirus pandemic, as well as dealing with the financial challenges created by the Gambling Act review, rising cost of living and animal rights activists.

The start of last year's Grand National was delayed after protesters from Animal Rising accessed the course. This prompted the Jockey Club to seek an injunction against persons associated with the organisation prior to the Derby, where a significant sum was also spent on additional security and fencing. Nevertheless, one protester did make it on to the track after the Classic had started.

Nevin Truesdale: played an instrumental role in the sport's fight against affordability checksCredit: Edward Whitaker

As well as leading racing's response to the protesters and to welfare around the Grand National, Truesdale played an instrumental role in rallying the sport against affordability checks proposed under the government's review of gambling legislation and regulations. A petition he launched on behalf of the industry received more than 100,000 signatures in less than a month resulting in a Westminster Hall debate by MPs on the subject.

In a statement announcing his planned departure, Truesdale said: “It has been a true privilege and my career highlight to work for and then lead this organisation.

“Its achievements are down to the world-class people at its heart, without doubt the strongest team the business has ever had. Together we have faced some of the most significant challenges imaginable over the last four years, but our people have remained steadfast in their commitment to help build a thriving sport for the benefit of all. 

“Together we have laid strong foundations for the future which will enable my successor to continue to grow the Jockey Club and ensure it continues to invest for the benefit of our sport and the communities it serves.”

With the Cheltenham Festival coming under scrutiny, and attendances falling for other big racedays such as the King George VI Chase and the Derby, concerns had been raised within the membership of the Jockey Club, which recently announced the King and Queen as joint-patrons, about the direction of the group, as detailed in a Racing Post special report last month.

Criticism included the centralisation of decision-making at the expense of local racecourses, rising internal costs and the recruitment of executive staff with little racing experience or knowledge. 

Truesdale was praised for his work by Sandy Dudgeon, the Jockey Club's senior steward, who will be replaced in the role by Dido Harding following the July meeting at Newmarket next month.

Dudgeon said: “Over the last decade Nevin has made an outstanding contribution to the Jockey Club and horseracing, not just in his time as CEO but also as chief financial officer. 

"Nevin took over the role of chief executive at an extremely challenging and unprecedented time both for the business and the racing industry and steered us successfully out of the impacts of the Covid-19 pandemic and cost of living crisis. He has also overseen a period of significant business transformation and improvement, as well as the building of a very strong team, for which the board of stewards and I are immensely grateful. 

“He will leave our business and sport in a better place, with a new long-term plan to strengthen and grow our business and sport. Nevin leaves with our very best wishes for success in his future career but, for now, there is much to do and it is very much business as usual.”

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