He had been involved in the horseracing industry directly for the past 12 years, formerly as chairman and later as CEO.
RA chairman Michael Leaf said the RA board was in discussions with Wainstein about his period of notice.
“The vacancy created will be advertised to find a suitable candidate for the position although an interim measure may be required to continue the work of the RA without disruption.
“Mr Wainstein has played an extremely important role in the industry and we believe he has always acted in the best interests of all racehorse owners.”
Leaf said that during his tenure with the RA “we have recognised and acknowledge Larry’s dedicated commitment to the job at hand and, despite all the travails that one has to go through in our industry, his unquestionable industry and unerring efforts in doing the best for our owners has not gone unnoticed”.
They listed some of his achievements as:
- Overseeing a regular increase in stakes every year prior to 2020 despite adverse economic conditions;
- Prudent financial management of the purse strings of the RA in doubling its cash resources since his entry into the RA;
- Improving the Race Day Experience for owners;
- Overseeing the refurbishment of the various venues – Elevation Room, Paddock Room and theGarret Bar;
- Co-ordinating and managing new race initiatives such as Princess Charlene Race Day, MonacoMillion Race Day and the Jockey’s international;
- Introducing new benefits for members such RA Bonus Races, Runner Notifications and Tellytracklive racing accessibility;
- Special Achievement Awards at the RA Feature Season Awards;
- Increased take-out from Sports Betting into the stakes pot;
- Facilitating support for the Export Protocols Programme as well as the Asian Racing Conference.
On behalf of the board, Leaf thanked him for his commitment and contribution to the industry and wished him well in his future endeavours.