Martin Stevenson confirms plans to step down from CEO role at RMG

The holding company responsible for a range of media rights management businesses involving 37 racecourses, Racecourse Media Group (RMG), announced upcoming changes to its senior-level team.

RMG's CEO reveals intentions to step down

Earlier this week, RMG confirmed that Martin Stevenson, its Chief Executive Officer (CEO), gave notice that he plans to step down from his current role with the company.

The exec notified the Board, asking them to start the search for a successor to the important role.

Although Stevenson did not confirm and exact date on when he plans to step down, the process is expected to be completed at the end of 2024.

A seasoned veteran with solid experience, Stevenson was a part of RMG for nearly two decades.

Back in 2020, he was appointed to the role of CEO.

The appointment followed the success he brought to the company while holding the role of Chief Financial Officer.

Initially, Stevenson joined RMG back in 2007.

The outgoing CEO played a key role in RMG's growth over the last two decades

Conor Grant, RMG's Chair, commented on the topic in a statement.

He spoke about Stevenson's significant contributions to RMG after nearly two decades with the company.

Grant praised his dedication and efforts as CEO since 2020 but also pointed to the success he brought to RMG for 13 years as Chief Financial Officer.

"Having started with the business in its formative years, he has been at the forefront of its development, pushing the boundaries on innovation and committed to delivering for our shareholders," said Grant about Stevenson.

Moreover, the company's Chair added: "RMG has been a tremendous success in maximizing the commercial rights for its shareholders and generating more than £1.2bn for its racecourse members and British racing. Martin has been integral to this success."

Grant said that Stevenson would leave the company prepared for its further growth and future success.

Finally, he thanked the outgoing exec on behalf of RMG's Board for his dedication and support.

Leading RMG was a privilege and honor, says Stevenson

Stevenson was similarly excited and commented on the topic by saying: "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."

He said that it was an incredible privilege and honor to take such important roles with Racecourse Media Group.

Moreover, Stevenson added: "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."

The CEO said that he will be leaving RMG "in great shape," while ongoing plans for its development are paving the way for its bright future.

Last but not least, Stevenson thanked everyone at the company for their dedication, commitment and support.

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