Hulman & Company CEO Mark Miles has announced that widely-respected motorsports industry veteran Jay Frye has been named as the new president of competition and operations for IndyCar.
Frye previously served as chief revenue officer for Hulman Motorsports after decades of experience leading successful NASCAR racing teams and securing industry first sponsorships.
"Jay Frye's resume is perfectly aligned with our organisation's strategic vision," Miles said, "He has both series and team experience, having successfully transformed and led Red Bull Racing and MB2 Motorsports before joining Hulman Motorsports. As our new president of competition and operations, he is ready to ensure the Verizon IndyCar Series continues to present great racing."
Frye first arrived at Hulman Motorsports after revamping Red Bull Racing into a competitive team that earned a berth in the 2009 NASCAR Chase. He also built MB2 Motorsports from the ground up, beginning with just ten employees before ultimately reaching 200. He also won four NASCAR Cup races as a team manager.
Frye will be responsible for all operations, competition and technical matters for IndyCar. He will report to Miles who, as CEO of the parent of IndyCar and Indianapolis Motor Speedway, will set strategy and oversee all aspects of the series.
Two long-time Verizon IndyCar Series and NASCAR team owners know all too well how difficult it is to compete against Frye and heaped praise upon today's announcement.
"Jay Frye's vast understanding of our industry's entire field of play, developed most especially through his strong work in NASCAR, makes him uniquely prepared for this new opportunity," said team owner Roger Penske, "He understands our technical and competition issues and he will develop solutions that work for fans, teams and the series. As the new president of competition and operations, he is prepared to ensure IndyCar's positive momentum keeps moving forward."
"Jay brings an exceptional resume, tireless work ethic and proven ability to produce results to his new role with IndyCar," agreed rival Chip Ganassi, "During our years competing against each other in NASCAR, I witnessed firsthand Jay's ability to successfully run a top-notch organisation. He's a proven leader and, as a team owner, I am excited to work with him as we embark upon a truly monumental season."
Taking over Frye's vacated position will be Rod Davis, formerly serving in senior executive roles with the Indiana Sports Corporation, USA Gymnastics, RCA Championships and USA Swimming. Throughout his career, Davis has secured nearly $100m in revenue through sponsorships, broadcast revenue and event fees while working with top global brands such as Panasonic, Coca-Cola, John Hancock, VISA and adidas. After founding Davis Sports Marketing a decade ago, he has represented leading organizations such as the NCAA, University of Notre Dame, Dale Earnhardt Inc. and USA Track & Field.
"As our new chief revenue officer, Rod Davis will successfully execute sponsorship deals already in the pipeline and find new partnerships to increase revenue and market share," Miles added, "His proven ability to build mutually beneficial relationships with leading Fortune 500 companies will pay dividends for both IMS and the Verizon IndyCar Series."