Incumbent Inglis Managing Director Mark Webster has agreed to remain in the role for a minimum of two more years.
"Mark had earlier decided to retire from executive duties and we had invited him to continue as a non-executive director,'' Inglis chairman John Coates said.
"We engaged a leading recruitment company, searching both here and abroad, however after six months we were unable to identify anyone with the right balance of corporate, leadership and racing industry skills and experience required for this important role.
"Accordingly, we asked Mark to put on hold his personal plans and we are most grateful that he has committed for another two to three years.
"Mark will continue to develop and mentor potential successors from within his senior management team, while we remain open to a suitable external candidate if one is identified.''
Webster said the decision to remain on as Managing Director made sense and was something he was enthusiastic about.
"When I made my decision to stand down as an executive earlier this year it was after a challenging couple of years which were focused on relocating the Sydney business to Warwick Farm and getting the new facility and hotel off the ground,'' Webster said.
"I felt I had made my contribution to the company and was ready for the next stage of my career.
"I am now feeling rejuvenated and ready to drive the business forward for the next few years and deliver for our customers.
"There is so much to look forward to, the re-opening of a fantastic renovated sales facility in Melbourne, the launch of the new Inglis Millennium Race Day and largest Classic Sale ever to be conducted.
"Inglis was the only auction house to sell a Group 1-winning two-year-old in 2018 and offered 67% of Australian Group 1 winners that were offered at public auction, this success for our customers is keeping me motivated."
