EXCLUSIVE
Australian Turf Club chief executive Matt Galanos was terminated by the club via email and courier-delivered letter on Monday, while he was on sick leave.
Sources with knowledge of the situation, but speaking on the condition of anonymity, told Betsy, Galanos and ATC chairman Tim Hale had a lunchtime Teams meeting to organise a separation agreement.
Galanos has worked for the ATC for 12 years as Chief Financial Officer before being promoted to the chief executive role two years ago.
There had been speculation about Galanos’ future in the Newscorp press over the past couple of days with column pieces in The Australian and on Racenet implying he had gone missing.
Galanos had been on sick leave for the past fortnight with medical certificates.
ATC Membership general manager Steve McMahon was made acting chief executive last week while Galanos was on leave. It is expected he will take on the role on an interim basis until the club starts a formal process to find a replacement.
The abrupt way Galanos was fired, which did not include a face-to-face meeting, again raises questions about the corporate governance of the ATC as it begins a new era under Hale’s leadership.
Rumours whirled at Rosehill on Saturday about the chief executive, with board members openly talking about upcoming meetings with him after he returned from leave.
The ATC did not wish to comment.
