Matthew McGrath is the new chairman of the Australian Turf Club with Julia Ritchie the new vice-chair.

The ATC board held a special meeting on Tuesday after Laurie Macri last week announced his retirement as chairman.

McGrath, who has been an ATC director since February 2015, paid tribute to Macri.

"It is a great honour to be elected by the board to continue the outstanding work Laurie has led as chairman over recent years," McGrath said.

"Laurie has served with great distinction as a director and chairman, and his announcement last week selflessly recognised the need for the next stage of succession planning for the future of the club and Sydney racing.

"He has made the club's core strategy our racing program and we look forward to continuing to make Sydney racing at least the equal of anywhere in the world."

Macri will remain as a director of the ATC with McGrath and Ritchie's appointments effective immediately.