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SEXTON NAMED ARLINGTON PARK PRESIDENT
Mordell Moves to Duchossois Industries, Inc.
ARLINGTON HEIGHTS, Il. (August 13, 2001) -- Thomas H. Meeker, president and chief executive officer of Churchill Downs Incorporated ("CDI") (Nasdaq: CHDN) and Richard L. Duchossois, chairman of the board of Arlington Park and CDI's largest shareholder, today announced the promotion of Steve Sexton to president of Arlington Park. Sexton, who joined Arlington as executive vice president in May 2001, will assume the duties currently handled by Scott Mordell, who is resigning as president and chief executive officer effective Aug. 31 to become executive vice president of Duchossois Industries Inc. ("DII").
Mordell was named president and chief executive officer of Arlington in March 1995 after serving as vice president of finance and administration since 1991.
"Scott has been an excellent leader and is, in large part, responsible for the improved quality of Thoroughbred racing at Arlington, which is bringing new life and vitality into the industry as a whole in Illinois," said Duchossois. "We are grateful for his enthusiastic dedication over the last 10 years and look forward to working with him at DII."
"I would like to thank Scott for supporting the transition after CDI's merger with Arlington last year," said Meeker. "Though he was ready to make this move a year ago, he agreed as part of our merger negotiations to remain at Arlington through the appropriate transition period to ensure a smooth and successful integration of the two companies. He has more than fulfilled his promises and responsibilities, and we wish him well."
As executive vice president of DII, Mordell will be a member of the senior management team and will continue to be involved in racing through DII's major ownership position in CDI. Duchossois Industries Inc. is a privately held diversified manufacturing and service organization, headquartered in Elmhurst, Illinois. DII has operations in the United States, Mexico and Europe and employs more than 8,000 people.
"I have certainly learned a great deal and enjoyed my tenure at Arlington," said Mordell. "After 11 years in racing, I believe it is important for me at this time in my life to move on and tackle new business challenges and opportunities."
Under his leadership, Mordell fostered Arlington's quality reputation and built a strong operating team while seeing the company through very difficult business and political challenges. A graduate of Michigan State University and the Kellogg School at Northwestern University, Mordell has a broad background in business, with an emphasis on strategy development and profit improvement initiatives. Before entering racing, Mordell worked on the corporate staff at DII and in the public accounting practices of Deloitte and Touche and KPMG Peat Marwick in his hometown of Detroit, Mich.
After joining Arlington three months ago, Sexton assumes the role of racetrack president and senior vice president of CDI's Illinois operations. Throughout his extensive racing career, Sexton has marketed and managed top horse racing facilities throughout the country including Santa Anita, Golden Gate Fields, Canterbury Park, and most recently Lone Star Park in Texas, which he helped establish as a new and vibrant Southern racing center. He also consulted on the marketing of Ladbroke's Wyoming OTB network, which included six sites, and assisted with the overall implementation of the 15-site Northern California OTB network.
"Steve is one of the most accomplished and innovative executives in our industry and brings a wealth of knowledge and experience to Arlington," said Meeker. "His vast experience has prepared him for this important role, and we believe he will be a great asset in our mission to return Illinois Thoroughbred horseracing to the prominence it once enjoyed."
"I'm thrilled to be leading an incredible organization in managing the most beautiful racing facility in the world," said Sexton. "Arlington has a top-rate team that is up to the challenges involved with growing our sport, and I look forward to working with them as we build on Arlington's tradition of excellence."
A graduate of Claremont McKenna College, with a double major in economics and psychology, Sexton began his 18-year career in racetrack management at Santa Anita in 1983 as sales promotion manager.
Churchill Downs Incorporated - headquartered in Louisville, Ky. - is one of the world's leading horse racing companies. Its flagship operation, Churchill Downs, is home of the Kentucky Derby and will host the race's 128th running on May 4, 2002. The Company owns additional racetracks in Kentucky, Illinois, California and Florida and has interests in a pari-mutuel operation in Indiana as well as various racing services companies. CDI trades on the Nasdaq National Market under the symbol CHDN and can be found on the Internet at www.churchilldownsincorporated.com.
Arlington Park, the Chicago area's premier Thoroughbred racetrack, located in Arlington Heights, Ill., is conducting its 102-day live racing meet June 13 to Oct. 28, 2001. Arlington Park, which merged with Churchill Downs Incorporated in September 2000, also operates off-track betting facilities at Trackside at Arlington Park; Quad City Downs; and in Chicago, Rockford, and Waukegan, Ill. Arlington Park can be found on the Internet at www.arlingtonpark.com.
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