When the board of trustees of the Keeneland Association selected Bill Thomason to be the seventh president in the 76-year history of the track and auction house, it was a recognition of the two years of work that he had done righting Keeneland after its sales revenue dropped by half during the recession that began in 2008. Thomason, 57, was hired in 2010 as chief financial officer, and he immediately set in motion a process to evaluate spending in every aspect of Keeneland’s operations.