The move comes as part of what the group has described as its “largest internal reorganisation in a decade.” The UK horse racing group is restructuring as part of a new strategy in response to the COVID-19 pandemic.

The Jockey Club stages the Cheltenham Festival and the Randox Health Grand National Festival. In September, the group said it expects COVID-related revenue losses to exceed initial estimates of £75m ($99.8m) due to an extension to the current behind-closed-doors policy for horse racing in the UK.

Truesdale has been a senior executive with the Jockey Club for the past seven years, first joining as group finance director in 2013 from Centrica plc. The executive is also on the board of directors for Jockey Club Racecourses, The National Stud, Jockey Club Catering, The Racecourse Association and Racecourse Media Group.

Commenting on his new role, Truesdale said: “The Jockey Club is full of talented and hardworking women and men who are passionate about the future of British Racing, whether they have come into the industry from a whole range of different sectors or had a career within the sport to date.

“I’d like to pay tribute to how our teams have handled the challenges of the pandemic and its impacts so far and I’m confident we will navigate this crisis and on to a very exciting future.”