Owner of Md's Two Largest Horse Tracks Hires Veteran Banker As New Chief Executive

Summary

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The owner of Maryland's two largest horse tracks has hired a veteran banker to be its new chief executive, betting he'll give fresh legs to the company and the $800 million Maryland racing industry.

W. Thomas Hodgson, who also was named to Canada-based Magna Entertainment Corp.'s board of directors, previously worked at Canadian Imperial Bank of Commerce, one of Canada's largest banks, and was chief executive of Central Guaranty Trust.

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Owner of Md's Two Largest Horse Tracks Hires Veteran Banker As New Chief Executive

Tom brings a very strong financial background, Magna Chairman Frank Stronach said in a news release.

Cost controls and decentralization will now get greater emphasis, said Dennis Mills, executive vice chairman at Magna, which ...

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