Harrison was elected unopposed at the club's Annual General Meeting (AGM) on Thursday night.

Harrison's appointment came as the MTC announced another magnificent profit and welcomed three new directors.

Outgoing MTC treasurer Rodney Parsons OAM announced a surplus of $281,467 as his final ever duty after 33 years.

The club also produced one it's greatest ever trading figures with a cash profit of $440,960.

As president Stuart Lamont, vice-president Michael Inglis and Parsons all stood down, MTC welcomed three new directors.

Scott Oehm, Peter Twomey and Simon Rosengren were the three successful candidates to be appointed, alongside Brett Bradley, by Racing NSW.

Bradley, a director since 2011, is the new treasurer and Bruce Harris was elected vice-president.

Harrison said it was an honour to become just the fifth MTC president in the past 46 years.

"It's a great honour to be able to take on the role after the people that have been appointed over the years," Harrison said.

"It's a very privileged job and it's going to be a hard job, to fill the boots of Stuart, especially with the change of what we've had with Rodney and Michael stepping down."

Harrison has served the MTC board for 14 years and is looking forward to leading the club into the future.

"I think the next couple of years is going to be a trying time, as far as with the drought and horse welfare," he said.

"But the training facilities we've got here, the stable complex that we've got on the go at the moment, that we're nearly ready for the DA to be lodged, I think that in itself will be a great improvement to the horse facility here and keep the horses in the region with the prizemoney of the Town Plate and Cup up to $200,000.

"It's all going forward. There's no backward steps anywhere and I think the club in the position we're in at the moment needs to roll into the future in a very strong way, but be mindful of horse welfare, and providing safe facilities."

At a busy AGM that attracted an attendance of about 50 people, there were eight new life members inducted.

Bryan Reardon, Ted Shulz, Jimmy McIntyre, John Fowler, Lou Cox, Allan Hull, along with Stuart Lamont and Rodney Parsons, were awarded life membership.

MTC also announced a new five-year deal with Lion.

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