Ascot Racecourse today announces that Charles Barnett will retire as Chief Executive next year following the 2014 Royal Meeting and the appointment of a successor. Charles Barnett will stay on at Ascot in an advisory capacity.
Johnny Weatherby, Her Majesty's Representative at Ascot, said: "The Board is tremendously grateful to Charles for everything he has achieved at Ascot.
"Having joined from Aintree in 2007, Charles has overseen the strengthening of the race programme, including the inauguration of British Champions Day. Under Charles, Ascot has become Europe's undisputed flagship international racecourse with the Royal Meeting at its heart.
"I am so grateful to Charles for all that he has done. He has played a pivotal role in Ascot's significant progress over the past few years and I am delighted that he will continue to be involved with Ascot in the future. It is intended that Charles's successor will have been selected by next June and so be able to experience the Royal Meeting alongside him."
Charles Barnett added: "I would like to thank Johnny for the support I have always enjoyed from him and the Board, whilst undertaking a role which I consider a privilege to hold.
"I have taken this decision now so that the Board has plenty of time to appoint my successor, who I look forward to working with next year to ensure a smooth transition, and I am delighted to be retaining an involvement with Ascot in the future.
"I have been fortunate enough to have led two national institutions within racing - Aintree and Ascot - both of which I regard as custodial roles, protecting and enhancing events of global significance that are steeped in history. In the meantime, it is very much business as usual."
Ascot Racecourse also confirms that it has appointed Spencer Stuart, the global executive search firm, to assist with the recruitment of a new Chief Executive. The focus for the appointment is on proven business leaders with a significant interest in horse racing.
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