AURORA – Magna Entertainment announced Wednesday it has hired Michael Neuman as CEO.
Neuman succeeds Frank Stronach, who has been interim CEO since March 2006. He has been an advisor to Stronach on MEC’s strategic and operational priorities for a year or so.
During this period working with other MEC personnel, Neuman "has already contributed to improvements in operational effectiveness, enhancing the value of MEC’s intellectual property and marketing opportunities that are available via the internet for XpressBet, MEC’s advance deposit wagering platform (ADW). He has also initiated a number of activities to enhance the value and distribution of HRTV, MEC’s horseracing television channel.
MEC owns several horse racing tracks and associated businesses.
Prior to joining MEC, Neuman had been president and COO of EchoStar, which operates Dish Network in the United States. Before that, he was president of Bell Mobility.
"We are delighted to appoint Michael as CEO at this important time in MEC’s development. In addition to our core focus on traditional track operations and live event entertainment, MEC has a growing number of opportunities in internet wagering on horseracing, broadcasting and wagering transaction processing in the consumer entertainment realm," said Stronach.
