Croydon's new first citizen is a millionaire racehorse owner who is set to put the mare into mayor.

Councillor Derek Millard galloped into his new role at a town hall ceremony this week.

A self confessed fan of equine sport, Coun Millard is also fond of sporty cars with plenty of horsepower.

He replaces Councillor Janet Marshall, who handed over the borough's ceremonial chains at a mayor making ceremony.

High-flying Coun Millard has also owned several sailing and motorboats and has a private pilot's licence.

A successful businessman who has overcome many hurdles, he will be chomping at the bit to support and help develop businesses in Croydon over the next year.

The new mayor, who spent working life as a stockbroker and merchant banker, has been married to Bunty, the new mayoress, for 47 years. They have two children, Andrew and Sheena, and five grandchildren.

Coun Millard said: "It is very exciting to be mayor. It is a year of a lot of work and a lot of fun. I want to make it as much fun as possible for everyone. Mayors can often be a little bit too serious and I am not like that at all so I want to get that across."

Coun Millard has lived in the borough all his life, except for two years spent training in Montreal as an actuary. His first school, Downside, was in Woodcote Lane, Purley. He later attended Tonbridge School - where his grandson Christopher is now a fourth generation of the family studying at the Kent school.

Coun Millard then embarked on a successful career in the city.

His involvement in local politics began in his 30s and in November 1986 he was elected as a council member for Purley ward in a byelection.

During the course of the following seven years he served as vice-chairman of several committees and also chaired the technical services Committee in 1991/92, he also served as deputy mayor to Ian Croft in 1992.

In his youth, Coun Millard was a cub and a scout and his mother worked in the Girl Guide movement, becoming world treasurer of the organisation.

Fittingly, in the 100th anniversary of the founding of the scout movement, Coun Millard chose Croydon scouting as one of the charities he will be supporting.