Scott Borgemenke stepped down as executive vice president of racing for Magna Entertainment Corp. effective July 18.

Borgemenke joined Magna on January 14 after previously serving as chairman of the Ohio Racing Commission.

“MEC is a company with enormous growth opportunities,” Borgemenke said. “I wish my friends there nothing but success, and will continue to provide any counsel I can. …Unfortunately, at this point in my life, my corporate and family responsibilities conflict.”

Borgemenke was in charge of all racing aspects at Magna tracks. He is also the son of Ralph Borgemenke, who rode King O’ Swords to a ninth-place finish in the 1956 Kentucky Derby.

“Scott has helped MEC move forward on a number of important operational initiatives,” Magna Chairman Frank Stronach said. “We very much appreciate his efforts, and we wish him well.”

Magna owns and operates ten racetracks in North America as well as Magna Racino in Austria.