"I'm at the long end of an appropriate tenure for any CEO if you want to allow for promotion within the management team," David Willmot, who announced his intention to step down as Chief Executive Officer of Woodbine Entertainment Group on Friday, told the Toronto Sun

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"Also the CEO has to come to work every day with fire in their belly. I've still got a passion for the sport but the right thing for the company and industry is for Nick [Eaves] who's younger to take over. Simply put, you've got to get out of the way."

Willmot announced his intention to step down as CEO at WEG’s next Annual General Meeting on June 4, 2010. He will continue to serve as Chairman of the Board while Nick Eaves, President and Chief Operating Officer, will succeed Willmot at CEO.

To read the Toronto Sun article in its entirety, click here.

(With files from the Toronto Sun)