Richard Fitzgerald To Step Down As Ceo Of Rmg
Racecourse Media Group (RMG) has confirmed that CEO Richard FitzGerald will step down from the role after nearly 12 years in charge.
He will step down gradually over the course of the next six weeks with current RMG Finance Director, Martin Stevenson, moving to become Acting CEO.
“On behalf of the Board of RMG, I thank Richard for his exceptional leadership of the RMG team for almost 12 years,” said Roger Lewis, Chairman, RMG.
“During this period RMG has produced great returns for our Racecourses, generating over £800m of licence fees during his tenure of office.
“The recent renewal of the RMG contract with ITV until 2023, the successful launch of our new Watch & Bet Service in June, and ensuring RMG is fully operational following the Covid-19 outbreak and so generating significant revenues for our racecourses, has created the right moment for Richard to announce his decision to step down.
“The achievements of RMG, which have driven its financial performance with Richard as CEO are significant, and include a ground-breaking data licensing and production service, an innovative LBO deal with SIS, the securing of the rights to Irish racing, the rebrand and launch of Racing TV, enhancing its HD service, and the expansion of RMG opportunities across the world.
“Richard leaves RMG with our sincerest thanks and best wishes for having delivered an outstanding performance over a considerable period of time.”
FitzGerald added: “It has been a fabulous and rewarding 12 years working for RMG. The business has flourished and delivered on the vision of the founding shareholders around a collective approach to commercialising their media and data rights.
“There is never a good time to step down but with resumption of racing, the new Watch & Bet deals, the terrestrial TV renewal and launch in Italy of fixed odds, and a new cycle of renewals starting shortly, it seems the right time to step down.
“It has been a great journey and I have enjoyed working with a strong, capable, committed and stable team to deliver the results we have been able to achieve consistently over the last decade.”
FitzGerald joined RMG in 2008, moving from a role in football, where he served as CEO of Premier League football club Aston Villa.
