Q and A: A New Chapter for Elliott Walden

[Wandering Eyes]

With the announcement in early January that Elliott Walden would step down from his role as CEO of WinStar Farm in October, passing the torch to Gerry Duffy, a 20-year run at the company is coming to an end. Until 2005, when he took over as Vice President, Walden had trained horses for the organization. Under his management, the farm won the Triple Crown with Justify along with two Kentucky Derbies, three Belmont Stakes, five Breeders' Cups, and four Eclipse Awards. Walden hand-picked Duffy to take over the reins, praising both his organizational and people skills. Walden sat down to talk to the TDN about what he loved about the job, what he'll miss, and what's next for the 62-year-old.

SF: As I understand it, Gerry starts on April 1st and then you will be with him until October, but talk to me about that transition and how that will work out.

EW: It was a well thought-out plan and we just wanted to have time with Gerry to pass this baton. He's coming aboard on April 1 as President. I'm going to be CEO, and he's going to hit the ground running with the main personnel on the farm. They're going to report to him, and then we're going to work side-by-side for six months and he's going to see the strategic side of things, when we go to buy horses, et cetera. We chose October 1 so that we could get through the September Sale. And then I'm going to consult for nine months.

SF: What led you to this decision?

Trainer Todd Pletcher with Walden | Jon Siegel

EW: It was really about timing; more WinStar's timing than my timing at my age and where I am in life. I could have gone another four or five years, barring any health or any type of issue, but we have talked amongst ourselves about what's next for WinStar as far as the Troutt family goes, and we're seeing Preston Troutt (Kenny's son) really step up in a big way and he's coming alongside Kenny and showing the same interest. So building a team around Preston was the main impetus of this, and Gerry is the right age for that. We had a transition at a couple of other key positions. Jack Mullikan stepped down a couple years ago and handed the baton off to Michael Holmes, who's a real star in the CFO role. And Gerry was at the point where he wanted to come back. He was still in Abu Dhabi, but his family decided to stay here, and that always changes things.

SF: So after October 1st, what happens for you? What do you do on October 2nd?

EW: I don't know. That's the exciting thing about it. I get to figure out some things to do. I'll probably consult in some way, and I've had a lot of calls on that, but really I'm just being open to what God has in store for me. I'm excited about that. I've always been a planner. I've always been an organizer. It's worked well for me to this point, but in this next phase I really don't know, and so it's allowing me an opportunity to grow my faith in that. And you know what? I don't have everything figured out, but I'm excited about it because with our children growing and Will doing so well in the business as a trainer, it's exciting to see that allow a little more time to be able to focus on that and to support him and our other kids in the endeavors that they have as well.

SF: Could you see yourself going back into some sort of training role?

EW: No, I don't think so. That would be getting right back into the day-to-day grind, and one thing I am looking forward to is the opportunity to be able to do some different things. From the time I started on the racetrack, I've worked 45 years basically six or seven days a week, and so the opportunity to be able to do some different things is exciting to me. So I don't see myself training.

SF: Are you the kind of person who can see themselves retiring, or do you need a purpose?

Will and Elliott Walden | Jon Siegel

EW: Oh, definitely a purpose. I'm not going to sit on the couch. There are going to be opportunities that come up and I'm already starting to think about some of those. But right now, I don't have anything scheduled because I'm still a hundred percent all-in to give Mr. Troutt and the Troutt family my focus.

SF: What was the highlight of your time at WinStar?

EW: The Triple Crown is an easy one. That's pretty incredible to do, and just to think about the history of that accomplishment and that it hasn't been done but 13 times, that's pretty overwhelming. I tried to win the Kentucky Derby twice as a trainer and got beat a neck both times, so really, I think being a Kentucky guy, winning the Kentucky Derby twice with WinStar is right there.

SF: How does your family feel about this transition? Does your wife worry you're going to be around too much?

EW: No, no. She's completely supportive and this is an opportunity for me to support her. She's supported me for so long in these two roles, moving around the country and being gone a lot, so this is an opportunity for me to give back to her.

SF: WinStar really came of age under your guidance, becoming a true global brand. What are you going to miss the most about it? Is it the people? Is it the day-to-day coming in the office?

EW: The highlight of WinStar for me has been the team, and that starts at the top. Kenny has been an incredible boss and leader. He has entrusted us to execute, but it starts with his desire. He's an example of what makes a farm like WinStar successful, and you see it in other farms as well, and that's first and foremost a very proactive owner. I think a farm of this magnitude needs a proactive owner, whether it's John Magnier at Coolmore, Kenny Troutt at WinStar, or B. Wayne Hughes at Spendthrift. I don't think you accomplish all that we've accomplished without somebody who has their eye on the ball. And with that, he's also entrusted us to make the decisions.

So working for him has been a real honor and a blessing, and what's so exciting about the future for WinStar is that Preston is starting to step into that role. Kenny's still going strong, but we're all getting a little older, and that's part of why we made the decision we made. Preston is a very impressive young man. For WinStar to survive over the next 25 years, they need a Troutt at the helm, and Preston's going to be that guy when Kenny is ready.

SF: Is there anything I haven't asked you that you'd like to say?

EW: We just had our annual managers' retreat. This was our 25th, and it just reminded me how much I'm going to miss this team. They are exceptional. I feel good that we're handing a really accomplished, professional team off to Gerry in a way in which we can make sure that WinStar Farm does not miss a beat. We have a bright future with the young stallions that we have coming up, starting this year. Life is Good and Nashville have their first runners this year, and Constitution is rolling. I'm excited about what Preston, Gerry, David, Natanya, and the whole team can do for the next 25 years. I'm going to miss working with the quality of these horses, but I would anticipate that I'm going to be around some quality horses in the future.

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