Magna Entertainment names Stephen McCasey to serve as East Coast COO

By Caroline Salls

Pittsburgh, April 23 - Magna Entertainment Corp. has appointed Stephen McCasey chief operating officer, east coast, effective April 17, according to an 8-K filed with the Securities and Exchange Commission.

Ron Charles, who has served as the company's chief operating officer since Jan. 7, 2008, will now service as chief operating officer, west coast.

According to the filing, McCasey joined Magna International Inc. in September 1996 as director of architecture and design.

Under the terms of McCasey's employment agreement, he will receive a base salary of $200,000 per year.

Magna, an Aurora, Ont.-based owner and operator of horse racetracks, filed for bankruptcy on March 5 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 09-10720.

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