Racecourse Media Group CEO to exit at the end of 2024
After 17 years at the company, Martin Stevenson will call time on his lengthy stint with Racecourse Media Group but has vowed to help manage the transition to his successor
Racecourse Media Group (RMG) has confirmed CEO Martin Stevenson has asked the board to start the search for his successor ahead of his exit.
RMG has revealed that it anticipates Stevenson will officially depart at the end of the year, ending his 17-year spell with the group, having arrived in 2007 as a finance director before taking the reins as CEO in 2020.
Since occupying RMG’s top role, Stevenson has overseen record results for member racecourses, which include Aintree, Cheltenham and Epsom Downs, as well as ensuring the firm lands future development.
With the next round of rights renewals fast approaching, Stevenson has conceded he feels now is the time to begin RMG’s transition period and eventually find a new CEO.
However, he has made clear that he will remain in the job over the course of the coming months to help those around him at the top of the RMG hierarchy appoint his successor.
Stevenson explained: “I have a significant birthday approaching and I think now is the right time for me to relinquish the role and enable the business to put in place its leadership in plenty of time ahead of the next rights renewal cycle.
“It has been a huge honour and privilege to have been involved in the RMG project. Having joined as finance director when it was still a start up, to helping it grow to become the largest funding organisation in British horseracing, it has been an exciting and engaging journey.
“The business has achieved a great deal in reclaiming control of our racecourses’ media and data rights and has created real substantial commercial success for the industry, having now delivered more than £1.2bn to the industry.”
Stevenson continued, revealing that plans for RMG’s future are already being drawn up as he added: “The industry undoubtedly has some challenges, but RMG is an excellent example of what can be achieved when the industry comes together in the right way with clear focus, commitment and good governance.
“I know I’ll be leaving RMG in great shape and with exciting innovation plans for the future that are in development now.
“I would like to thank the excellent team at RMG for all their hard work and passion in helping to make RMG such a success. I would also like to thank all our racecourses for their fantastic support and putting their faith in us to deliver for them.”
Conor Grant, RMG chair, heaped praise on Stevenson for “pushing the boundaries” and insists that he leaves the media group in “rude health”.
“Martin has made an enormous contribution to Racecourse Media Group over the last 17 years, serving with great distinction as chief financial officer for 13 years and as chief executive since 2020,” Grant added.
“He has been a great ambassador for RMG and leaves the business in rude health and with exciting plans to ensure our continued growth.”
Stevenson’s announcement comes just over three months since another notable change was made in the RMG C-suite, with the firm promoting Ben Dowding to the new role of chief betting officer.
Following the merger of the firm’s international and domestic betting teams, Dowding has spearhead the combined groups since being appointed in late March.
Much like Stevenson, Dowding is a RMG stalwart, having first joined 11 years ago in 2013 as head of partnerships before rising up the ranks, with spells as head of B2B and director of betting coming shortly after.
Arnold Ash is EGR’s Executive Recruitment Partner. They support ambitious organisations to identify and attract industry leading executive talent. Find out more here.