Larry Wainstein resigns

Larry Wainstein, CEO of the Racing Association (RA), has resigned in order to focus on personal business interests.

JANUARY 28, 2020
According to a press statement issued by Michael Leaf, Chairman of the RA, Wainstein has served the horseracing industry directly for the past twelve years, formerly as Chairman and later as CEO of the RA.

His resignation is effective 31 January 2020.

“Our Board is currently in discussions with Mr Wainstein as regards his period of notice. The vacancy created will be advertised to find a suitable candidate for the position although an interim measure may be required to continue the work of the RA without disruption,” reads the press release.

“Mr Wainstein has played an extremely important role in the industry and we believe he has always acted in the best interests of all racehorse owners.

“During his tenure with the RA we have recognised and acknowledge Larry’s dedicated commitment to the job at hand and, despite all the travails that one has to go through in our industry, his unquestionable industry and unerring efforts in doing the best for our owners has not gone unnoticed.”

Milestones achieved during his tenure with the RA, as listed in the press release, include:

Overseeing a regular increase in stakes every year prior to 2020 despite adverse economic conditions;
Prudent financial management of the purse strings of the RA in doubling its cash resources since his entry into the RA;
Improving the Race Day Experience for owners;
Overseeing the refurbishment of the various venues – Elevation Room, Paddock Room and the Garret Bar;
Co-ordinating and managing new race initiatives such as Princess Charlene Race Day, Monaco Million Race Day and the International Jockey’s Challenge;
Introducing new benefits for members such as RA Bonus Races, Runner Notifications and Tellytrack live racing accessibility;
Special Achievement Awards at the RA Feature Season Awards;
Increased take-out from Sports Betting into the stakes pot;
Facilitating support for the Export Protocols Programme as well as the Asian Racing Conference.
“On behalf of the Board I take this opportunity to thank him for his commitment and contribution to the industry and to wish him well in his future endeavours,” concludes Leaf.

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Better Late than Never .....

Best wishes Larry

I am sure we were aware that changes were on the cards.
However transparency remains a concern.
Here we have a major player resigning with immediate effect with no succession plan or handover period in place.
Lets see what the next press release reveals.

Good Punting

I thought the milestones sounded like a eulogy.

.......:ohmy: .....was he shoved.....:huh: ......I for one am very surprised ......thought he would duke it out until the very end...:whistle:

There seems to have been a lot of personnel changes in the Directorships in SA horse racing over the last couple of years. Why?
What are the odds on Phumulela getting a bailout right now?

oscar wrote: There seems to have been a lot of personnel changes in the Directorships in SA horse racing over the last couple of years. Why?
What are the odds on Phumulela getting a bailout right now?

Don`t think a bailout would happen

I’ve seen a champion trainer and huge owner say good riddance on Social Media

And on the other hand a trainer tell me Racing will be f*#^*% without Larry

It’s a bit like Jooste, they all kept stum until after

Did he hang up his gloves ?:whistle:

Bob Brogan wrote: I’ve seen a champion trainer and huge owner say good riddance on Social Media

And on the other hand a trainer tell me Racing will be f*#^*% without Larry

It’s a bit like Jooste, they all kept stum until after

......he was personally appointed and anointed by Jooste and that was the big problem......and to now claim that he acted in the best interests of all owners.....is not exactly true.....a witch hunt aided by the NHRA he went for his detractors and many owners that simply turned their backs on the RA or left the game in droves......how he lasted so long.....behaving as he did is a crying shame.....:blink:

Reason given for leaving
To focus on other business interests

Any truth in the rumour that he is going to manufacture fancy jackets
and model them himself?