Racing Queensland will commence a new era from next year following the resignation of Brendan Parnell as Chief Executive Officer.
Since 2018, Mr Parnell has helped oversee the commercial transformation of the Queensland racing industry, delivering a range of accomplishments during this time including record-breaking revenue and wagering turnover.
Mr Parnell will conclude his tenure in Autumn next year to take up a senior global racing role in the United Kingdom with RQ to now commence an extensive search for his successor.
RQ Chair Steve Wilson AM said Mr Parnell could look back proudly on what has been achieved with the industry well positioned for a new CEO to succeed him.
“Brendan has been an energetic and dynamic leader who has overseen a strong period of growth for the industry,” Mr Wilson said.
“As RQ has increased its revenue, it has been able to deliver record payments to participants and an incredible pipeline of infrastructure projects with more on the horizon.
“He was also instrumental in negotiating our new media rights agreement, championing RQ’s reconciliation activities, driving innovation and commercialisation of the racing calendar and delivering our long-term funding arrangement through the up-coming Betting Tax changes.
“We wish Brendan well in his new role and look forward to a new CEO building on our strong foundations.”
Over the next five years, RQ plans to deliver more than $450 million in infrastructure projects including the Gold Coast tracks and lights project, the Greater Brisbane Greyhound Centre and a new state-of-the-art harness venue.
This follows the successful delivery of the Ipswich Turf Club redevelopment, Sunshine Coast Turf Club Polytrack and hundreds of projects through the Country Racing Program.
“It’s been a privilege to lead the Queensland racing industry,” Mr Parnell said.
“We’ve been the beneficiary of a highly supportive Government, Board and RQ team who have been committed to driving commercial outcomes and achieving our strategic ambitions including the launch of the Queensland Off-The-Track Program for retired racehorses.
“With the up-coming Betting Tax changes, the industry’s long-term funding model has now been secured and it is a perfect time for a new leader to take the reins and advance the Queensland racing industry through their own ideas and concepts.”
RQ will commence advertising for a new CEO prior to the end of the calendar year.