Churchill Downs Executive and Leadership Team

July, 2026

Leadership Overview

Churchill Downs has 6 executives leading key functions including strategy, operations, finance, human resources, online wagering, and racing/gaming.

Driven by a commitment to innovation and tradition, Churchill Downs operates as a premier racing, gaming, and entertainment company, shaping the future of the industry through its diverse portfolio and iconic events.

Leadership Roles at Churchill Downs

  • Chief Executive Officer - William Carstanjen
  • Executive Vice President & Chief Financial Officer - Marcia Dall
  • President & Chief Operating Officer - William Mudd
  • President - Twinspires - Michael Lilly
  • President Fairgrounds Racing, Gaming, OTBs - Douglas Shipley
  • Chief Human Resources Officer & Senior VP, Human Resources - Katherine Armstrong
  • William Carstanjen - Chief Executive Officer

    William Carstanjen, the Chief Executive Officer at Churchill Downs, directs the overarching corporate strategy and operational execution across the company's diverse racing, gaming, and entertainment segments. Overseeing the integration of acquired assets and the development of new entertainment venues, Carstanjen ensures alignment with the company's mission to preserve racing traditions while embracing technological advancements in gaming and digital platforms. This leadership role involves guiding the expansion of the company's footprint in key regional markets and driving initiatives that enhance shareholder value. By fostering a culture of innovation, William Carstanjen actively shapes the future of thoroughbred racing and gaming entertainment, solidifying Churchill Downs' position as an industry leader. The Chief Executive Officer's purview extends to strategic partnerships and long-term financial planning, ensuring sustainable growth and operational excellence across all business units.
    William Carstanjen

    Marcia Dall - Executive Vice President & Chief Financial Officer

    Marcia Dall, the Executive Vice President & Chief Financial Officer at Churchill Downs, directs all financial operations, including accounting, treasury, investor relations, and financial planning and analysis. Overseeing the company's fiscal health, Dall ensures robust financial controls and strategic capital allocation to support growth initiatives and maintain profitability. This leadership position involves managing financial risk, optimizing the company's capital structure, and driving initiatives that enhance shareholder value. By providing critical financial insights, Marcia Dall enables informed decision-making across all business segments, from racing operations to digital gaming platforms. The Executive Vice President & Chief Financial Officer's responsibilities extend to evaluating potential acquisitions and divestitures, ensuring financial due diligence and strategic alignment. Dall's expertise is crucial for navigating the complex financial landscape of the gaming and entertainment industry.
    Marcia Dall

    William Mudd - President & Chief Operating Officer

    William Mudd, the President & Chief Operating Officer at Churchill Downs, executes the day-to-day operational strategies across the company's extensive portfolio of racetracks, casinos, and entertainment venues. Overseeing the seamless integration of gaming and racing operations, Mudd ensures optimal performance and customer experience at properties nationwide. This critical role involves managing cross-functional teams to drive efficiency, implement best practices, and maintain the highest standards of service. By focusing on operational excellence, William Mudd directly supports the company's growth objectives and its commitment to delivering premier entertainment experiences. The President & Chief Operating Officer's responsibilities include optimizing resource allocation, enhancing operational workflows, and ensuring compliance with regulatory requirements across all jurisdictions. Mudd's leadership ensures the effective functioning of integrated entertainment destinations, from thoroughbred racing events to casino gaming floors.
    William Mudd

    Michael Lilly - President - Twinspires

    Michael Lilly, the President - Twinspires at Churchill Downs, spearheads the strategy and operations for the company's premier online wagering platform, TwinSpires.com. Overseeing the development and enhancement of digital betting experiences, Lilly drives innovation in horse racing, sports betting, and online casino gaming. This leadership role involves expanding customer reach through digital channels and ensuring a seamless, secure, and engaging wagering experience across multiple states. By focusing on user acquisition and retention, Michael Lilly directly impacts the growth of Churchill Downs' digital segment. The President - Twinspires' responsibilities include managing marketing efforts, optimizing platform performance, and ensuring compliance with all relevant gaming regulations. Lilly's strategic direction is crucial for maintaining TwinSpires' competitive edge in the rapidly evolving online gaming market.

    Douglas Shipley - President Fairgrounds Racing, Gaming, OTBs

    Douglas Shipley, the President Fairgrounds Racing, Gaming, OTBs at Churchill Downs, directs the comprehensive operations of the Fairgrounds racetrack, its associated gaming facilities, and the network of Off-Track Betting (OTB) locations. Overseeing racing events, casino operations, and simulcast wagering, Shipley ensures a dynamic and integrated entertainment experience for patrons. This leadership role involves managing staff, optimizing operational efficiency, and driving revenue growth across these key business segments. By focusing on enhancing the customer journey, Douglas Shipley directly contributes to the success of Churchill Downs' regional gaming and racing properties. The President Fairgrounds Racing, Gaming, OTBs' responsibilities include developing strategic plans for property development, managing budgets, and ensuring compliance with state and local gaming regulations. Shipley's expertise is vital for maintaining the integrity and appeal of these established entertainment destinations.

    Katherine Armstrong - Chief Human Resources Officer & Senior VP, Human Resources

    Katherine Armstrong, the Chief Human Resources Officer & Senior VP, Human Resources at Churchill Downs, leads all aspects of human capital management, talent acquisition, employee development, and organizational culture. Overseeing the strategic implementation of HR policies and programs, Armstrong ensures a supportive and engaging work environment across the company's diverse operations. This role is vital for attracting and retaining top talent in the competitive racing and gaming sectors. By fostering a strong corporate culture, Katherine Armstrong directly contributes to employee satisfaction and retention, which are critical for delivering exceptional customer experiences. The Chief Human Resources Officer & Senior VP, Human Resources' responsibilities include developing comprehensive compensation and benefits strategies, managing labor relations, and driving initiatives that promote diversity and inclusion. Armstrong's leadership ensures that Churchill Downs has the skilled workforce necessary to achieve its strategic objectives.

    Explore Leadership Teams in Amusement Parks, Arcades & Attractions

    Frequently Asked Questions Regarding Churchill Downs Top Executives and Leadership Team

    Who leads Churchill Downs?
    Churchill Downs is led by William Carstanjen (Chief Executive Officer), along with executives such as Marcia Dall (Executive Vice President & Chief Financial Officer) and William Mudd (President & Chief Operating Officer).
    Who is part of Churchill Downs’s executive team?
    The executive team of Churchill Downs includes leaders such as William Carstanjen (Chief Executive Officer), Marcia Dall (Executive Vice President & Chief Financial Officer), William Mudd (President & Chief Operating Officer) and other senior executives.
    How many executives does Churchill Downs have?
    Churchill Downs has 6 executives leading key business areas.
    What roles are included in Churchill Downs’s leadership team?
    The leadership team of Churchill Downs includes roles such as Chief Executive Officer, Executive Vice President & Chief Financial Officer, President & Chief Operating Officer, President - Twinspires, President Fairgrounds Racing, Gaming, OTBs.