The UK Tote, which is currently undergoing major changes to its status as the government tries to remove itself from direct involvement in horse racing financing and administration, has been found a new chairman.

The Sports Minister, Gerry Sutcliffe announced that Mike Smith, the 61 year old executive whiz who has headed major gambling company takeovers, sales and acquisitions in the United Kingdom, will be taking over the role. Smith has headed companies such as William Hill, Ladbrokes and Rank in his career.

“I’m very pleased Mike Smith has agreed to take on the role of Tote Chair,” said Gerry Sutcliffe. “He has significant industry expertise that will prove invaluable during this important period for the Tote, as will his extensive track record in leading gaming businesses through mergers and acquisitions. I am confident he will provide the kind of leadership needed to help grow the Tote’s business at the same time as seeing it through any sale process.