Personality Profile May 2003

Richard Turnley

When Richard Turnley became CEO of one of Australia’s Top 100 companies at just 31 he had little involvement in the Sport of Kings but, as GRAEME KELLY reports in this profile, his subsequent purchase of Boscobel at Sutton Forest was to change all that and lead Richard to breed a Golden Slipper winner and become one of the leading administrators in the Australian thoroughbred breeding industry.

RICHARD TURNLEY is under no illusions about the difficulties interwoven through the positions he holds in the thoroughbred industry.
He also appreciates that, in his roles as president of Thoroughbred Breeders Australia and president of Thoroughbred Breeders New South Wales, there are needs for a reformation of the system.
With an exceptional administrative background, first in business and later in Federal Government, Richard has a strategic understanding of what is required.
“There is a huge amount of frustration involved,” he said. “Although we are the second largest thoroughbred breeding country in the world and the TBA has been in existence for more than 85 years, we are probably the worst organised.
“We try to run the TBA on a limited budget, as we believe most breeders relate primarily to their state organisations. The breeding industry in each of the states has evolved in its own particular way because of the various demands of the individual states.
“However TBA has to attend to wider issues such as artificial insemination, embryo transfers, industry practices, the matter of GST, also ensuring that the Australian racehorse is properly recognised in catalogues and international classifications, as well as guaranteeing the industry remains free of exotic diseases.
“The Australian Horse Council is the only horse body the Australian Government recognises, so TBA has to operate through the council to seek a way to properly finance research. The current method is totally unfair, because it is almost entirely financed by the thoroughbred industry as unfortunately, the horse shoe levy which was proposed, has not been accepted.
“That would have, on a pro rata per horse basis, spread the costs across each of the various breeds.
“We are also dealing with the Australian Stud Book on best-practices.
“Currently the major issue we have there is with the Australian Government on the imposition of GST, which is a matter that needs to be properly resolved.”
Richard considers an amalgamation with Aushorse could provide a possible answer to the TBA’s burdensome situation.
“Aushorse sees itself as an important body representing commercial breeders, but I think it would be more beneficial to the industry if there was only one body. We are encouraging a merger between the two bodies in such a way that breeders outside New South Wales would not feel disadvantaged or threatened.
“It would certainly be nice to think that all the breeders who want to be in the industry could still be involved, but there is no doubt that every year it becomes more of an economic strain.
In fact I think that it is probably necessary for racing authorities to realise there could be a mammoth drop-off in foals born, if this matter is not addressed.”
While being one of the most highly respected identities in the Australian thoroughbred industry, Richard had little connection with racing or breeding until relatively late in life for someone now so prominent.
In fact there had only been the odd dabble in racehorse ownership, with former Australian cricket captain Richie Benaud and rugby league player Alan Cardy, until he decided on a change of direction and lifestyle with the purchase of Boscobel, at Sutton Forest, 27 years ago.
Born in Melbourne he had gained some experience in knowledge of country living when he spent his formative years outside the small town of Barham on the Murray River about 850km south-west of Sydney.
“My mother Judy was from a very famous musical family named Amadio,” Richard said. “She was the number one flute for the Melbourne Symphony Orchestra and a teacher at the conservatorium.
“Her cousin Clive was in Sydney on the ABC, another cousin Neville was the number one flute for the Sydney Symphony Orchestra and my grandfather was probably the world’s leading flautist of his time.
“He accompanied Dame Nellie Melba and Tetrazzini around the world and later married a famous singer of the time, Florence Austral. However my mother gave up her musical career after World War II when we moved to the Murray region where my father had the Massey Ferguson agency and sold farm machinery.”
On completing his schooling Richard secured a degree in commerce majoring in econometrics - “a study of how countries grow and prosper” - at the University of Melbourne before attending the London University.
During a three and a half-year stint in London in the early 1960s he joined Dalgetys and continued with the company, in a management capacity at its headquarters in Bridge Street, Sydney, on returning to Australia.
After leaving Dalgetys he went into stockbroking for two years before being appointed chief executive officer of Forestwood Australia Limited on July 16, 1973. That meant he had the honour, at age 31, of being the youngest CEO of one of Australia’s top 100 public companies.
“As such I was also chairman of the Muswellbrook Coal Company, a big construction company called James Wallace (Holdings) Limited as well as a director of the Watts Construction Group,” Richard said. “It was a huge concern - absolutely huge.”
It was in those days that his interest in racing was nurtured, but being a pennant golfer with a two handicap and an accomplished pennant tennis player, there were generally conflicting weekend commitments.
It was also during his time with Forestwood that Richard purchased Boscobel with its historic homestead and 63ha (160 acres) at Sutton Forest.
“I decided I wanted to be out of Sydney as much as possible and I just hunted around until I found a property that appealed to me. It was a bit run down and I had to construct safe fencing and improve the pastures, but I was happy doing that.
“It had previously been owned by people called Proberts who had stood the 1964 AJC Derby winner Royal Sovereign. It had also been owned by Patrick White’s mother and he spent his first seven or eight years here, so the place has quite a history.”
Then, in June 1980, Forestwood was taken over by a company connected with media magnate Kerry Packer.
“That was crunch time,” Richard said. “I had to decide what to do with myself.
“I was asked to go to Canberra as Principal Private Secretary to John Howard, who was Federal Treasurer in the Fraser Government, and I accepted.
“John Hewson was on our staff, John Stone was the secretary for the treasury and Trevor Boucher was the Commissioner for Taxation. We were going around the world, non-stop and we never knew where we were.”
However after about two years the government’s standing began to deteriorate and Richard departed to establish a thoroughbred stud and to begin living permanently at Boscobel.
“I decided I didn’t want to return to city life. It was a total change.
“While I was at Forestwood it was a matter of juggling about eight different balls up in the air at one time, and the job in Canberra was really intense because you had to deal with so many subjects on a daily basis. For instance on any given day I would receive around 50 minutes - they’re not called memoranda - from treasury, the tax office and various other departments.
“To that extent it was busy, busy, but on moving to the property it was very much manual, because besides having the stud I was running cattle on another 720 acres (283ha) at Sutton Forest.”
By that stage Richard had built up a band of around 10 broodmares and, quite remarkably, decided to stand three stallions, Saarond (GB), Mark Anthony (IRE) and Manwari (USA), at Boscobel in 1983.
While Mark Anthony who was by Supreme Sovereign, and Manwari a Seabird horse, left little impact, Saarond made his mark as the sire of the champion sprinter Campaign King whose victories featured the Doomben 10,000-Gr.1 (1350m) and Stradbroke Handicap-Gr.1 (1400m) in 1988.
“I don’t really know how I got so involved, but I just took the punt. I didn’t have any assistance apart from the staff, but I suppose I’ve always had a good eye for detail, which helped.”
He says “everything began to change” after he purchased the Rheingold (IRE) mare Manx Park for $12,000 from Robert Sangster’s Swettenham Stud Syndicate at the William Inglis and Son Easter Broodmare Sale in 1981. At the time Manx Park, who was from a half-sister to the brilliant English sprinter Greenland Park, was in-foal to Swettenham’s impeccably bred One For All horse Let’s Go South (CAN).
The resultant foal was Travelling Prayer who won nine races. Manx Park subsequently produced Winged Prayer, Richard’s favourite horse, who was a stakes winner of six races, to a mating with Charmande (USA), by Damascus, before going to Victory Prince in his first season at Boscobel.
By Imperial Prince (IRE) from the Todman mare Victoria Cross, Victory Prince had proved his ability by defeating a field including Red Anchor, Inspired and Spirit of Kingston in the AJC Sires Produce Stakes-Gr.1 (1400m) at Randwick in 1984.
The mating between Victory Prince and Manx Park produced Tierce, who was retained by Richard after bringing a highest bid of $18,000 against a reserve of $30,000 when offered for sale as a yearling.
“I’ve sold most of the horses I’ve bred but I didn’t really want to sell him,” Richard said of Tierce, who is now a revered stallion in China.
“He always looked very athletic. He had a beautiful eye and he was a very kind horse.
“I had a wonderful time with Tierce, as I did with Winged Prayer who died last year.”
Then, as so often happens with a sales reject, Tierce was placed in the hands of trainer Clarry Conners and went on to become a truly outstanding performer. After being thrashed at his debut in the Silver Slipper Stakes-Gr. 2 (1100m) at Rosehill, he put together an incredible series of eight wins and a second from another nine outings as a two year-old.
He was in particularly devastating form in the autumn of 1991 when in successive outings he captured the Coca Cola Classic-Gr.3 (1200m) at Newcastle, Todman Slipper Trial-Gr.2 (1200m) and the Golden Slipper Stakes-Gr.1 (1200m), defeating Canonise and Big Dreams, at Rosehill.
Tierce went on to join Baguette and Luskin Star as the only Two Year Old Triple Crown winners by then racing away with the AJC Sires’ Produce Stakes-Gr.1 and Champagne Stakes-Gr.1 (1600m) at Randwick.
His successes enabled Richard to buy and develop an additional 138ha (350 acres) “only five minutes away from Boscobel” which was appropriately named Manx Park where he now maintains the stud’s boarders and young stock.
“Following Tierce’s win in the Golden Slipper I was asked whether I would join Thoroughbred Breeders, New South Wales,” Richard recalled.
“It was a time when there was some turmoil developing, of which I had no knowledge, because at that stage I hadn’t been remotely interested in those sorts of issues.
“The basic problem was that a small number of high profile studs were seeking a guaranteed representation on the board - which was being opposed by the incumbent board.
“It was by a freak of timing that I joined the board of TBNSW at this point.
“When the election was held most of the incumbent board were returned and I became the honorary treasurer. From there everything seemed to evolve.
“I became the TBNSW representative on Thoroughbred Breeders Australia and subsequently its representative on the Australian Group and Listed Races Advisory Board.
“Then on a rotational basis, I became president of the TBNSW in 1998.
“After that, when Ted van Heemst stood down as president of Thoroughbred Breeders Australia, I was asked whether I would take over that position . . . and I did, so everything seems to have crept up on me.
“It’s been financially draining though, because I don’t receive any compensation or remuneration at all . . . not for any of it.
“Also it is time consuming because I spend at least three hours a day on business connected with those committees, as well as having my normal stud work. I haven’t even had a non-horse holiday, in more than two decades.”
That circumstance has led to Richard having thoughts of stepping down. However he would dearly like to see a more uniform approach to thoroughbred breeding in NSW before he relinquishes his positions.
“As far as TBNSW is concerned our role is to encourage and promote the breeding of thoroughbreds so there is an adequate supply of horses for the local market as well as the export market. “By far the biggest market is the local market, but for the past decade we have been attempting to introduce an incentive scheme which will match the incentive schemes of our neighbouring states. However the frustrating part here is that we have had a number of high profile studs who have not found this objective as important as we feel it is.
“Obviously with the drought in place and the decline in the rural population and rural incomes, it is more vital than ever to make breeding as economical as possible or as potentially remunerative as we can.
“In the past decade it has only been the stallion owners who have had a reliable profit stream while the broodmare owners have had a struggle - that’s the immediate problem we are facing.”
Richard said another of the concerns he has in fulfilling his duties is that there be a more reliable “flow on” of subject matters so there is an automatic circulation of information.
“I feel it is very important other people become more involved than they are at present. In that way, when I stand down there will be correct follow on - and that should prevent any hiccups.”
While he has only recently been re-elected, Richard believes the time when he should stand down is not too far away.
“I feel people shouldn’t hang on in administrative positions,” he said. “I think, before long, someone should come in and take over from me although I would like to continue chairing the Australian Group and Listed Races Advisory Panel, if the Australian Racing Board wanted me to continue that one function.”
While his days in the industry’s management may be limited, Richard has no intention of leaving Boscobel, even though he will probably not replace Victory Prince when he goes into retirement.
“Even though I would retain ownership of the property, because I have staff and the people who board their horses here to consider, I doubt whether I will be making any further major investment in the industry.
“I’ve made quite a few changes in my life, but now that I’m over 60 I think I would like to move on to other ventures. I’d like to perfect my French and Italian, and I’d like to become a more active member of the Royal St George’s Golf Club (in Britain) than I have been over the last 35 years.
“They are holding the British Open (Golf Championship) there this year and I will be acting as a marshall on the 18th green during the Open, which will be something to look forward to. At the same time I will still be racing a few horses, but the empire is not going to become any bigger.”