Friday, May 4, 2012
Contact: Dan Silver
dsilver@nyrainc.com
NYRA BOARD OF DIRECTORS TERMINATES THE EMPLOYMENT OF HAYWARD AND KEHOE
ELMONT, N.Y. – The Board of Directors of The New York Racing Association, Inc. (NYRA) announced today that it has decided to terminate the employment of NYRA President and CEO Charles Hayward and NYRA Senior VP and General Counsel Patrick Kehoe, effective immediately. C.Steven Duncker, the Chairman of NYRA’s Board of Directors, stated that the Board’s decision was based on a determination that these executives failed to perform their duties at a level required by the Board. Mr. Duncker noted that there are ongoing governmental inquiries relating to the circumstances surrounding the takeout issue, that NYRA was cooperating with those inquiries, and that NYRA expects that those inquiries will thoroughly and fairly investigate the matter.
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