The New South Wales government will seek a third extension of Russell Balding’s term as chairman of Racing NSW despite Treasury recommending two-term limits for directors of state-owned firms.
The extension will require legislation to be passed before the end of the year, with Balding’s position ending on 18 December, alongside that of the deputy chair, Saranne Cooke, who the government also wants to retain.
The racing minister, David Harris, said extending Balding’s tenure would provide “continuity of corporate knowledge” as the sector faces a reforms and economic challenges.
“Corporate stability during some challenging negotiations in coming months is crucial to the future continued success of the industry,” he said.
“My strong expectation with this appointment is there is increased transparency around welfare and rehoming, greater support for provincial races and a continued commitment to supporting a responsible, sustainable and competitive racing industry.”
Harris said the Racing NSW board had shown a “particular skill in guiding the industry through the very challenging Covid period” and wanted it to focus on “negotiating a pathway to continued financial sustainability through emerging economic headwinds”.
Balding’s term was extended under the previous government after the Coalition and Labor joined forces in 2021 to pass legislation to raise the statutory limit of 10 years to 12. It had already been raised from eight in 2019.
The decision is likely to spur conversation about the appropriate tenure for directors of state-owned corporations after the NSW Treasury recently recommended they serve a maximum of two three-year terms.
Emma Hurst, an Animal Justice party MP said the decision from the government was “absurd” and accused the minister of being “under the thumb of industry” that she said had campaigned for his position to be extended.
“There is no justification for this decision – if and when it comes before NSW parliament, the Animal Justice party will be strongly fighting against this decision,” Hurst said.
Harris said last month statutory organisations had different guidelines for a range of reasons and was “happy to think” about the NSW Treasury advice.
“But there is always going to be a situation where there may be extenuating circumstances where it can be justified that someone may need to serve a longer period,” he said during budget estimates.
