09/01/2008 11:00PM

Fasig-Tipton shifts executive posts


Fasig-Tipton, which was purchased by the Dubai-based company Synergy in April, has restructured its management team and hired Darley USA's Dan Pride as chief operating officer.

Under the restructuring, chairman D.G. Van Clief, Jr., becomes chairman emeritus and will continue his role as a non-executive senior advisor. Walt Robertson takes over as chairman while continuing as auctioneer, and the former chief operating officer, Boyd Browning, assumes the title of president and chief executive officer.

In addition to his COO duties, Pride also will serve as executive vice president. Darley Australia's managing director, Olly Tait, will succeed Pride at Darley USA.

Browning said Fasig-Tipton "will be taking a fresh look at all of our operations with an eye toward innovation and improvement."

The auction house's sale to Synergy opened the door for Fasig-Tipton to expand its role beyond auctions and into areas like owner recruitment, though the company has not yet launched any new programs.

Synergy's chief executive, Abdulla al-Habbai, is a close associate of Darley owner Sheikh Mohammed al-Maktoum, the global thoroughbred industry's dominant owner, breeder, and buyer. Maktoum has denied having any stake in Synergy or Fasig-Tipton.

Fasig-Tipton conducts sales in Florida, Kentucky, Maryland, New York, and Texas.