• Robert L. Evans Appointed Chairman of Company's Board of Directors
  • G. Watts Humphrey Jr. Appointed Lead Independent Director of the Board
  • William C. Carstanjen Promoted to President of CDI

LOUISVILLE, Ky., March 21, 2011 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated ("CDI" or "Company") (Nasdaq:CHDN) today announced changes to the leadership structure of its board of directors and executive management team, following the planned retirement of current CDI chairman of the board Carl F. Pollard effective June 16, 2011.

CDI's board of directors has appointed current president and chief executive officer, Robert L. Evans, to succeed Pollard as chairman of the board concurrent with Pollard's retirement on June 16. Evans will assume the title of chairman and chief executive officer for the Company.

The CDI board of directors has appointed current director G. Watts Humphrey Jr. as lead independent director of the board. Humphrey will assume his new responsibilities on June 16.

The Company also announced that William C. Carstanjen, who currently serves as chief operating officer, has been promoted to president of CDI and will assume the new role of president and chief operating officer effective immediately. In his new role, Carstanjen will have oversight of all CDI business segments, including the racing, online and gaming operating units. Carstanjen will continue to report directly to Evans.

Robert L. Evans Background

Robert L. Evans joined CDI as its president and chief executive officer in August 2006 and has served on CDI's board of directors since that date. He has been primarily responsible for the Company's diversified growth strategy that has resulted in its continuous growth despite the recent global economic downturn and the gradual decline of the U.S. Thoroughbred industry. Evans' direction and leadership resulted in record revenue and EBITDA (earnings before interest, taxes, depreciation and amortization) for the Company during the 2010 calendar year.

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