RJR Sports has been reliably informed that Michael Bernard has stepped down as chairman of the island's sole promoting company for horse racing, Supreme Ventures Racing and Entertainment Limited (SVREL). Bernard took over as chairman of SVREL in December of last year and later assumed the role of Executive Chairman in May of this year following the resignation of Chief Operating Officer Brando Hayden.
"I initially was engaged on a one year contract as chairman of and then actually as executive chairman of SVREL. The one year contract ends December 31 and prior to that date, I indicated to the chairman of SVL (Supreme Ventures Limited) that I would not be seeking to renew my contract as executive chairman," Bernard told RJR Sports.
RJR Sports further understands that entrepreneur and trainer Solomon Sharpe will take over as the new chairman of SVREL.