‘Best to pivot and move on': John Kanga announces removal of Tom Reilly as CEO of Melbourne Racing Club
Melbourne Racing Club chairman John Kanga has revealed the sudden removal of chief executive Tom Reilly.
Reilly, the former Thoroughbred Breeders Australia and Aushorse chief executive, joined the MRC in January.
'Sometimes it just doesn't work out,' Kanga said in a statement on Monday night.
'Tom was only CEO for three months and when things don't go as well as they should, it is best to pivot and move on.'
• PUNT LIKE A PRO: Become a Racenet iQ member and get expert tips – with fully transparent return on investment statistics – from Racenet's team of professional punters at our Pro Tips section. SUBSCRIBE NOW!
Kanga has appointed Tanya Fullerton, vice chairman of the Thoroughbred Racehorse Owners' Association, as chief operating officer.
Fullerton has more than 30 years of corporate, racing and administrative experience.
'Everyone can be assured that we have put a management structure in place to ensure a smooth transition,' Kanga said.
'Tanya has an excellent reputation and deep experience and relationships across the racing industry.'
Reilly's departure comes in a period of relative stability at the MRC, following board room and administrative unrest last year.
Kanga last year led a successful take over of the board and quickly went about actioning key election promises, including the retention of racing at Sandown.
Kanga also announced that the manager of private training centre Pinecliff would be employed as a consultant 'for the next few months to help us work out the best approach and protocols' to improve the club's race tracks.
Originally published as 'Best to pivot and move on': John Kanga announces removal of Tom Reilly as CEO of Melbourne Racing Club
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
ABC News
14 minutes ago
- ABC News
As BNPL enters food delivery territory in the US, new regulations come in here
Clothes, appliances, holidays, festival tickets and now burritos are all being bought now and paid for later as small lenders expand their offerings across the globe. But a US company's foray into financing fast food has sparked consumer backlash and raised questions about the industry's expansion. Food delivery service DoorDash in March said it was partnering with finance company Klarna. The Swedish company offers a range of services, including buy now, pay later (BNPL), which lets users pay for their meal delivery in four interest-free instalments. The move echoes the availability of BNPL financing for food in Australia, which is launching new regulation of the industry from today. The DoorDash-Klarna announcement drew a flurry of memes to social media about the notion of taking months to pay for a $15 burrito, but it also raised eyebrows. One US financial advisor, Douglas Boneparth, wrote on X that "these companies [BNPL] aren't helping people". "In fact, they are taking advantage of them. Even Klarna CEO Sebastian Siemiatkowski told CNN it was "unwise" to use BNPL for takeaway. "I would not recommend anyone buy a burrito on buy now, pay later." He said the company only offered the option because Klarna had become associated with BNPL in the US, whereas in Europe, users associate the company with PayPal and flexible payments. In the first three months of 2025, Klarna's net loss totalled $99 million, almost double the $47 million it lost during the same period last year. The company attributes the loss to one-off costs, including depreciation, share-based payments and restructuring. However, the losses may also be a result of customers defaulting on their BNPL agreements, Consumer Action Law Centre senior policy officer Rose Bruce-Smith says. The company's first-quarter report found customer credit losses increased by 17 per cent, totalling $136 million. "It's been widely reported that Klarna's delinquency rate is increasing, and it's not hard to link this to an increasing push by BNPL providers for people to use their products for small, extremely discretionary purchases," Ms Bruce-Smith told the ABC. "Encouraging people to go into debt can start what we call a debt spiral, leaving people overcommitted and reeling from borrowing to pay off one debt to the next." Afterpay said data in the last three months of 2024 suggested there was not a similar increase in delinquency in Australia. Yes. Australians can and do use BNPL to pay for online food delivery. A quick test on an UberEats account shows Zip as an available payment option. Afterpay also partners with a range of food and beverage providers aiming to provide what it calls a "seamless on-demand offering, at no cost to the customer when instalment payments are made on time". Afterpay and Zip did not disclose how many Australians use BNPL to order food delivery on their platforms when asked by the ABC. But a 2023 survey from Financial Counselling Australia found that a significant number of people were using BNPL to pay for essential items: According to a survey by Finder, two in five Australians used a BNPL service in the six months leading up to August 2024. The average debt carried by BNPL users in September 2024 was $964. From today, BNPL products are going to be regulated as a new type of credit — low cost credit contracts (LCCC). That means BNPL providers will need to hold a credit licence and comply with most obligations under the National Consumer Credit Protection Act. According to the government, the aim of the new legislation is to provide appropriate and proportionate protections to consumers, while maintaining the benefits associated with access to BNPL products. ASIC commissioner Alan Kirkland says "these reforms are an important step to improve protection for Australian consumers who use BNPL products". The new regulations ensure there is a legal framework that reduces the risk of people being left worse off by BNPL. Here's how the specific changes mentioned above will protect you as a consumer: Currently, responsible lending obligations (RLO) require credit providers to reasonably ensure they're not signing people up to unaffordable or unsuitable credit. Under the new regime, BNPL providers will be able to choose between complying with the full version of the RLOs or with a modified framework. Within the modified framework, BNPL providers won't be required to vet a consumer's ability to make repayments as thoroughly. For instance, they won't need to obtain documentation, like bank statements, to confirm a consumer's income and financial situation. Though they'll still need to conduct a credit check. Ms Bruce-Smith says the new regulations are "absolutely the right step forward". "BNPL will be treated like other credit products, meaning there will be some mandatory checks of a consumer's ability to repay the loan," she said. "Customers will also have a right to request a financial hardship arrangement from their provider." But she believes the result is still a "light-touch" regulation. "Many protections against unaffordable lending will only apply to loans over $2,000, and we're concerned that consumers may end up with multiple contracts with different providers," Ms Bruce-Smith said. "The light touch verification also means people are vulnerable to identity fraud and financial abuse by another person taking out a loan in their name." Deb Shroot from Financial Counselling Australia is broadly supportive of the new changes, but is concerned there may be some loopholes. In particular, that the new regulations don't cover other forms of credit products. "We are concerned about the use of wage advance products," Ms Shroot told the ABC. "They're unregulated and potentially harmful credit products on the market that target people in financial stress. "The new rules are welcome, but they're complicated." The biggest BNPL player, Afterpay, has welcomed the changes. "Our commitment to simplicity and transparency remains unchanged," an Afterpay spokesperson said. "The new BNPL regulations reflect what we've always known: we're distinctly different from traditional forms of credit such as credit cards because we help customers avoid interest and revolving debt." A Zip spokesperson told the ABC the BNPL provider has held an Australian credit licence since inception. "Zip has been advocating for fit-for-purpose regulation for many years, and we have transparently been conducting ID, credit and affordability checks on our customers since inception," they said. "Zip is well placed to meet the timetable for the regulation of BNPL products and looks forward to continuing to support our customers and stakeholders as they look for flexible alternatives to manage their finances."
News.com.au
21 minutes ago
- News.com.au
‘Never a good day': Gen Y property manager spills on troubled industry
A 22-year-old property manager has exposed the grim realities of an industry plagued by high turnover, with nearly a third of its workforce contemplating resignation. From workplace affairs and clueless young investors to poo-smeared walls and a rogue dildo, the Gen Y property manager said her negative experience drove her to quit the industry after two years. It comes as the Real Estate Institute of Queensland (REIQ) highlighted growing dissatisfaction among property managers caught between tenants grappling with sky-high rents, and landlords managing increased holding costs and changing rental laws. Taking to Reddit after resigning from her position at a Queensland agency, the woman, identified as IcyBrick3874, described a high-pressure, underappreciated job marked by disturbing tenant behaviour. During an exit inspection, she found 'human poop on the carpet floor and on walls EVERYWHERE! Used period pads, weed and used needles'. In another routine inspection, she found a tenant's 'hot pink dildo was suction cupped to the shower wall'. The property manager also cited challenges with 'young, high-income individuals' buying their first properties as investments then demanding unrealistically high rents despite having 'minimal understanding of the rental market'. Ultimately, she concluded, there was 'never a good day'. Her experience aligned with insights shared by 751 property managers surveyed by MRI Software for the National Apartment Association, detailed in the Voice of the Property Manager 2024 report. The research found 29 per cent of property managers wanted to quit within the next five years, rising to 31 per cent among those who had been in the industry for six or more years. REIQ CEO Antonia Mercorella said property management remained 'a tough and emotionally taxing profession', despite more training in areas like mental health and resilience. 'The abuse directed at property managers, including verbal aggression and public vilification, previously even from political figures, is completely unacceptable and disheartening,' Ms Mercorella said. 'Queensland's property managers continue to operate in an incredibly high-pressure environment, with rental conditions remaining stubbornly tight and competition for more affordable, quality stock still intense. 'High turnover continues to strain agencies and the professionals who stay, taking a toll on service levels and wellbeing.' Palaszczuk scores insane 684 per cent return on Brisbane property IcyBrick3874 said she felt 'set up to fail' as a young team leader with little experience: 'the turn over is so high they take anyone'. She also noted a disturbing workplace culture, revealing some older male sales agents were 'inappropriately flirty with younger women', creating a 'really uncomfortable environment'. It was 'pretty widely known' that 'married agents were involved in affairs with younger staff,' describing it as a side of the industry 'rarely talked about, but definitely exists'. Ms Mercorella said the introduction of Stage 2 rental law changes in May had added significant extra strain on workers tasked with educating landlords and managing disputes. 'While we welcome efforts to improve support for property managers, including professional development and mental health resources, the core issues — chronic rental undersupply and unrelenting regulatory change, continue to weigh heavily on the profession. 'If we want to retain skilled professionals and ensure the stability of our rental market, we must better support and value those on the frontline of housing delivery.'
News.com.au
21 minutes ago
- News.com.au
AIC First XV rugby round 6 Team of the Week
Has there been a more dramatic transformation of an AIC First XV player this decade than that of St Edmund's College lock Seb Kracht? Kracht is a remarkable rags to riches story, someone who has come from the clouds - and the wing - to take the competition by storm this season. This time last year the athletic Kracht was playing wing in the St Edmund's Second XV. Fast forward 12 months and he has been consistently one of the best players on the field in both good times and bad for St Edmund's this season. Exhibit A was when St Edmund's lost its round three match to St Laurence's at Runcorn when St Laurence's led 28-nil at halftime, before winning 49-17. Yet Kracht scored two tries, hit hard in defence to halt Laurie's forward charges one off the ruck, and contested strongly in lineouts. They were the bad times, yet he finished the Doubles Daley Medallist. Now to the good times. Last Saturday St Edmund's won a thriller against St Peters after a last minute penalty goal by Pat Albion. Kracht scored and was enormous with his thundering runs and tackles. Coach Andrew Kirk admits if Kracht had indicated he would be prepared to switch from the outside backs to the forwards, he would have picked him last season at a time when he was wandering in the No. 14 jumper. Eddies' revelation Kracht makes the AIC rugby round 6 Team of the Week again following his performance against the Saints. Who joins him in the side? AIC FIRST XV RUGBY TEAM OF THE WEEK 15. Harry Taylor (St Laurence's) Taylor's incursions from fullback last weekend were telling. Taylor, a Year 10 student, is going to be one heck of a three-year player for Laurie's. He scored a double and dazzled on both occasions, using his footwork, speed and unpredictability to manoeuvre his way past defenders. He is quite exciting. 14. Jarah Chaseling (Padua) Like Taylor, winger or fullback Chaseling's first love is rugby league. But that hasn't stopped him from making a palpable difference for Padua this year. Saturday was a fine example of him at his best because late in the second half he stepped past one player, drew in two and then released an offload while being wrestled to ground. It created a try and well before that the slippery speedster was involved in a few others which inflated Padua's score from 19 to 50 in no time. 13. Sean Green (Ashgrove) Green helped set a platform for Ashgrove with uncomplicated, straight, hard running from inside centre. His size and strength made him an authoritative figure and his involvement added variety to the edge-of-the-ruck runs by the Ashgrove ball carriers. The Papua New Guinean powerhouse also supported well on the inside if breaks were made by the outside backs. Nate Clark (Padua) Clark moved back to inside centre after a grand two-game stint as Padua's flyhalf. Perfectly suited to the No.12 position, Clark was a defensive lynchpin across a gruelling first half and he maintained his high standards whenever Paddies had the ball in the second half. He was excellent in defence on a day where every Padua back had their moment. 11. Rory West (Padua) The little ripper on Padua's left wing had a match to remember in front of a bumper St Patrick's crowd. With bucketloads of spectators watching on as part of the school's back to Shorncliffe day, West was magic wherever he went to finish off four tries. Small but speedy and hard to bring down, West was a key beneficiary of the work of his inside men. 10. Damon Humphrys (Padua) Humphrys had his hand in a few West tries and plenty of others as the ace flyhalf created four of five second half tries scored by the fast-finishing Padua boys. The visitors held a slender 19-15 lead at oranges but won 50-15. Humphrys - utilising his deft grubber kicking, short and long passing game and deceptive speed and athleticism - was at the forefront of Padua's second half heave after the St Patrick's forwards had dominated early. 9. Harrison Graham (Ashgrove) The masterful Graham has been a terrific middle man tying together Ashgrove's authority at the breakdown and its ability to move the ball around. When Ashgrove race in those many tries from a long, long way out from the line, it is easy to overlook Graham's snappy service as a firing pin. 8. Seb Gardiner (Ashgrove) Gardiner is, of course, a No. 7, but to squeeze in two courageous and inspiring flankers from losing teams into the top 15 (see below), the Ashgrove skipper has been shifted to No.8. Gardiner has been a revelation with his dynamic runs both into space and into the opposition taking his side over the advantage at speed. Gardiner's urgency in the defensive line must have set an example for his peers. 7. James Kenny (St Peters) Not for the first time the compact flanker was magnificent. Tough, strong and courageous, Kenny has played above his weight and under duress all season and did it again last weekend in a nail biter. Kenny's ability to win contested possession at the breakdown has been a highlight of matches he has played. Again last weekend he was responsible for four or five turnovers for his the Saints. 6. Finn Staley (Villanova) A tenacious, smaller flanker, Staley was bravely on the ball against the odds against Ashgrove last weekend. He was also an effective and agile defender on the edge of the ruck who helped keep the scoreline down. Staley has stepped up in the absence of tone-setting backrower Ryder Childs who has been out since round 4 with a broken cheek bone. 5. Seb Kracht (St Edmund's) Kracht has undergone an extraordinary transformation from a Second XV winger in 2024 to a tremendous lock in 2025, not far behind Padua weapon Will Ross. Certainly Kracht is the find of the season among the forwards in the AIC competition. Aside from his authority in defence, damaging runs and safe lineout retrieval, Kracht has now scored a try against every opponent this season. 4. Zane Smith (St Peters) In a team desperately unlucky to lose, the undersized second rower continued to play above his weight and give his side his all. Smith was solid with his carries, running straight and hard, and continued to give his team a high work rate and mobility around the field. 3. Luka Smith (St Laurence's) There has been no third-season syndrome for Laurie's prop Luka Smith. In fact, he has only gotten better and better as the seasons have worn on. Against Iona, Smith's pick-and-drive play - partnered with Vin Rix, Brad Smith and others - mounted enormous pressure on the opposition's goal line. Smith's strength and skill was best eclipsed late in the game when a short lineout play saw him throw the ball in, receive a quick offload and storm 20m to the tryline, barreling a defender over on his barnstorming pursuit. 2. Mitch Wallis (St Patrick's) Wallis' room would be full of Doubles Daley medals after his deeds this season. A hooker with two more years of First XV rugby ahead, Wallis has headed a strong Paddies scrum and gotten increasingly harder to handle running the ball. The powerful 15-year-old was at the epicentre of Paddies' strong start which saw them lead 5-nil and looking capable of an upset when trailing by four early in the second half. 1. Jack Mercer (Padua) An impressive prop every week for Padua with his work rate and involvement, Mercer made inroads again versing an amped-up Paddies pack. Fast and fit for a prop, Mercer was solid in his core role but raised the bar with his cover tackling and urgency running from A to B. He has been top notch in 2025. 16. Josh Heinrich (Ashgrove) Heinrick was a four star performer again as both a tight forward and a loose forward - all the while kicking six goals from seven attempts. Again he looked like an inside centre in full cry when he burst through to score a 45m try, while never shirking his other responsibilities in the set pieces and at the breakdown. 17. Will Tatt (St Edmund's) The back-row forward has been Mr Consistency, someone who has done the one percent plays from start to finish this season. Eddies' would not have swapped him for anyone over the last two seasons and it was nice for the hard working forward to have that winning feeling again in 2025. Tatt deserved nothing more. 18. Matt Linnell (Villanova) Gridiron quarterback and rugby captain Matt Linnell led from the front as a tight forward work horse against Ashgrove. He finished with an elbow injury, but before his departure the upbeat chap led the team strongly with runs and was great over the ball. 19. Tom Croft (St Laurence's) Croft scored two tries within the first 15 minutes to put a down payment on victory for the black and golds. As the match progressed, the No.8 was in everything. He put his head down and got to work in pick-and-drive play which delivered more than half of Laurie's 61 points and his pressure off kick restarts and in defence was outstanding. 20. James Turner (Iona) Entering the fold with Keanu Bothma out injured, scrumhalf Jimmy Turner took his chance with both hands and had a posiitve showing. His quick taps kept the Laurie's defenders on their toes and Turner's service from the ruck base was pin point. The ultra-fit First XI cricketer was quick to the breakdown and his sound 70-minute performance against an on-fire Laurie's outfit warrants praise. 21. Alex Borger (Villanova) It was not an easy day in the office for the Villanova scrumhalf, such was the pressure exerted by the Ashgrove forwards at the breakdown. But goal-kicking gun Borger held up well, was brave under pressure, moved the ball well and overall had a fine match. 22. Joey Cervetto (Ashgrove) For a kid who started as a three quarter, Cervetto has come on in leaps and bounds for unbeaten Ashgrove. Earlier in the season the headgear-wearing flyhalf did not over play his hand and his confidence and patience has obviously grown as his combination with the players around him has improved. The Queensland Thunder water polo prodigy looked like a senior player with class and last Saturday against Villanova. 23. Tomi Wilson (St Edmund's) St Edmund's fullback Tom Wilson has been one of the rookies of the season. He is only in Year 10, but has taken to First XV rugby like a duck to the Bremer River through Ipswich. He was also a two-try hero last weekend and dropped the ball over the line attempting a third try. SPECIAL MENTIONS: Will Ross (Padua),Elliot Aldridge (Ashgrove), Hudson Bishop (Villanova), Oliver Gibson (Iona), Matt Doherty (Iona), Liam Whale and Fionn MacCafferkey (Iona), Justin Wilson (St Laurence's), Gio Koopu (St Laurence's), Harrison Vera (Padua), Tom O'Regan (Padua), Denzel Savelino (St Patrick's), Abe Huxtable (St Patrick's) and Oliver Slater (St Patrick's). Villanova v St Patrick's St Edmund's v Iona Padua v Marist
