Official Club announcement of Peter Stubbs retirement

Today, the Canberra Racing Club announced the retirement of the organisation’s long serving Chief Executive, Peter Stubbs. His retirement will be effective from 16 October 2018, which coincides with the Club’s Annual General Meeting.

Canberra Racing Club Chairman Paul Meiklejohn said, “The committee and the members are tremendously grateful to Peter for his commitment and long service to the Canberra Racing Club. His leadership and professionalism will be greatly missed, and we wish him well in the next phase of his life.

During his time as CEO, Peter has brought great credit to the organisation and has left an indelible mark on the history of the Canberra Racing Club which will never be erased. We are indebted to Peter for his many years of dedication and faithful service to numerous Committees, the membership as well as the many working parts of the organisation who depend on the CEO for their business and enjoyment. Peter has created a strong sense of purpose and belonging amongst his tight knit management team which has been a key factor of both his success and the success of the Club. There have been numerous situations over the many years of Peter’s reign as CEO where the Club has had to be strong, resilient and often innovative in its approach to problem solving and crisis management and Peter has always led the Club through these situations and ensured a positive result was always achieved.

Peter’s decision to retire brings to a close a remarkable career of 30 years in racing administration including the past 12 years as CEO of the Canberra Racing Club.” Commenting on his decision to retire, Peter Stubbs said, “My tenure as CEO of Canberra Racing Club has been a highly rewarding and enjoyable experience. It has been an absolute privilege to have been able to work for such a great Club in an industry that I have been passionate about for most of my life. During my time as CEO, I have been fortunate to work for strong and progressive committees and without their support and vision, we would not be where we are today. I would like to thank the committee for their support and contribution to the success of the Club over the past 12 years. I would also like to thank the great team of staff that I have had the privilege of working with, many of whom have been with me for the duration of my tenure. It is wonderful to see that they too have a passion for the Club and the racing industry. Without their commitment, support and enthusiasm the job would have been far more difficult.

With the support of committee and staff, we have been able to achieve a great deal with some of the highlights including:

 completing $13.5 million in capital works

 the in-house manufacture of the synthetic material to resurface the Acton Track

 increasing prize money by 70% or $2 million to record levels of over $5 million

 the build-up of substantial cash reserves and retirement of all debts

 the merging of the Black Opal Stakes and Canberra Cup race meetings, further strengthening the feature races, which have resulted in upgrades in the status of the Black Opal Stakes to Group 3 level and Canberra Guineas to Listed status

 administering a major revenue source in Race Fields Legislation on behalf of the three codes of racing by taking over the responsibility from the ACT Gambling and Racing Commission

 the introduction of the $40k plus $10K Canberra trained bonus TAB Federal races on every race program

 developing and implementing a bio–security plan to allow racing to continue in the ACT through the equine influenza outbreak with the assistance the ACT Chief Veterinary Officer, Dr Will Andrews, Dept. Territory & Municipal Services and approved by the Consultative Committee for Exotic Animal Diseases.

 the growth in the number of horses in training to record levels of 300 horses stabled at Thoroughbred Park.  decade high CRC membership levels

 nine years as an Executive Director on the Australian Racing Board

 participating in various ACT Government studies, investigations and agreements including the Co-Location Relocation Study, the ICRC Investigation, the ACT Government and Racing Industry MOU and the Racing Industry and ACT Government Committee.

We have some great Club sponsors, many of whom have been with us throughout my time as CEO and I thank them for their support. I have great respect for the racing industry participants for their devotion to the racing industry.

The commitment of trainers and jockeys is extraordinary, as is the commitment and contribution of race horse owners, which does not always bring success. And, let us not forget of course the members, punters, bookmakers, stewards, racing media and patrons without whom we would not have a racing industry.

Racing is such a diverse industry how could you not enjoy it. Among other things in my retirement I look forward to going to the races in a social capacity and simply watching the horses.

The foundations have been set for a new CEO to take the Club forward. The committee and management have been active in finalising the 2017-2022 Strategic Plan; planning consultants have been appointed to develop a Precinct Master Plan for the future development of Thoroughbred Park; and the balance sheet is in good shape.” The Committee will immediately commence the process of choosing Peter Stubbs’ successor in order to provide for a smooth transition into the Chief Executive role.


Mr Paul Meiklejohn
Chairman
Canberra Racing Club
14 May 2018