Churchill Downs Incorporated Names Bill Mudd CFO

Churchill
Downs Incorporated announced the appointment of William “Bill” E. Mudd to serve
as the Company’s executive vice president and chief financial officer (“CFO”).

Mudd will
oversee financial reporting, strategic planning, compliance, business planning,
capital management, risk management and investor relations efforts. He will
report to President and Chief Executive Officer Robert L. Evans. He will assume
his new role Oct. 15.

Mudd comes
to his new position after 15 years with General Electric Company (“GE”), where
he most recently served as Global Commercial CFO at GE Water & Process
Technologies, a water process and filtration business based in

Trevose,

Pa.

He will
succeed Mike Miller, who left his role as executive vice president and CFO in
January to pursue other business interests.

Mudd, 36,
a native of Marion County, Ky., rose rapidly to positions of increased
responsibility within GE after he started his career with the company in 1992
with a part-time position in purchasing at GE’s

Appliance

Park in

Louisville,

Ky.
He held that position while he completed a bachelor of science degree in
mathematics and actuarial science at

Bellarmine

University. He joined GE
on a full-time basis following his graduation in 1993. Mudd also holds a
masters of business administration degree from

Webster

University
and was a captain in the United States Army Reserves with 14 years of service.

Mudd
served as Global Commercial CFO of GE Water beginning in 2006, and from 2004 to
2006 was CFO of Supply Chain, IT and Technology Finance for GE’s Consumer and
Industrial Europe, Middle East & Africa Divison in

Budapest,

Hungary.
Earlier he served as finance manager of Global Financial Planning &
Analysis and Business Development for GE Fanuc, a joint venture between GE and
Fanuc, a Japanese partner, in

Charlottesville,

Va. In 2000, he began two years
of service as commercial finance manager, retail for GE Appliances in

Louisville. Mudd had
earlier served as a financial and operations analyst for that operation.

“I’m
pleased to welcome Bill to our senior management team at Churchill Downs,” said
Evans. “Bill’s broad business background, his expertise in domestic and
international markets, and his exceptional leadership skills will be tremendous
assets as our Company explores new avenues and opportunities for development
and growth. It is gratifying to have attracted such a strong candidate to this
role as we continue to strengthen our Company’s management team.”