11/02/2010 1:19PM

Doug Cauthen stepping down from WinStar post

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LEXINGTON, Ky. - WinStar chief executive officer Doug Cauthen announced Tuesday that he will leave the farm to pursue “new opportunities within the industry.”

Earlier this month, the farm revealed that Kenny Troutt had bought out minority partner Bill Casner, who remains a major client at the former Prestonwood Farm property on Pisgah Pike between Lexington and Versailles.

“As the internal discussions regarding the future of the farm continued to evolve, Cauthen determined that now was the appropriate time to step down from his WinStar post,” according to a release issued Tuesday afternoon.

Cauthen, who also held the position of WinStar president, will be replaced by Elliott Walden, who has been serving as vice-president and racing manager.

“Kenny and I have had several discussions regarding the consolidation of the farm and his vision of the future,” Cauthen said. “At the end of the day, now seems like the appropriate time to offer my services to a wider group of people.”

Cauthen will stay on in a consulting role during the transition “and will most likely be an independent sounding board for WinStar for a long time in the future,” said Troutt.