Ben Bayot said it was “untenable to continue working with a dysfunctional board” after he was one of two Australian Turf Club directors to resign just three days after the axing of chief executive officer Matt Galanos while he was on sick leave.
Bayot quit on Thursday before Natalie Hewson followed suit. Bayot had been on the board since May 2021, while Hewson joined in February 2023. The departures leave the board with just four directors.
Ben Bayot
Bayout said he did not see a positive future for the club, which in May failed to gain the support of members to sell Rosehill Gardens to the NSW Government for $5 billion.
“The actions of the board do not align with my personal values,” Bayot said.
“The board lacks alignment, recently has shown poor corporate governance and faces significant financial strain. I don’t see a positive future for the club under this board.
“Unfortunately it was untenable to continue working with a dysfunctional board.”
On Monday, the ATC sacked Galanos, who had been in the top job since April 2023 but had been on leave for the past two weeks. The club appointed Steve McMahon as interim CEO, which it announced on Wednesday. It said a formal process to appoint a permanent CEO would be held in due course and the club would make no further comment on individual employment matters.
ATC chairman Tim Hale said at the time the board was determined to place members and the racing community at the centre of its decision-making.
“Our members and the great sport of thoroughbred racing are at the heart of the Australian Turf Club. We are committed to building stronger connections, being more transparent, and creating new ways for our members to help shape the future of their club,” Hale said.