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NASCAR Holdings today confirmed it is beginning a major restructuring of its operations to better position the company for the future. Steve Phelps An internal memo was sent out this morning and reviewed by SBJ, detailing a series of executive changes that are expected to take place more than six months before the start of the 2025 NASCAR season.
Brian Herbst, Tim Clark, Ben Kennedy, Scott Prime and Michelle Byron Some NASCAR executives will be given higher ranks and more responsibility. The changes will allow NASCAR staff to become acclimated to the new structure ahead of major changes, including NASCAR expanding from two to five domestic media rights partners in 2025.
As previously reported by SBJ, the restructuring includes a small number of job cuts made in recent weeks, including in the sponsorship sales department. The exact number of layoffs is unclear. It signals that NASCAR is pushing for changes at a time when it is asking its teams to tighten spending.
In the memo, Phelps suggested he was looking to take on a bigger picture role at NASCAR, saying the move would allow him to “increasedly focus on the strategic vision and global expansion of NASCAR-owned racing facilities, which I believe are the best and most exciting in the world.”
NASCAR also owns the IMSA sports car series, and SBJ reported that NASCAR is in talks to invest in Thrill One Sports & Entertainment's NitroCross rallycross racing series. Privately held Daytona Beach-based NASCAR Holdings is facing pressure for market share from Liberty Media, which has boosted Formula One's popularity and recently agreed to buy MotoGP.
Under the new structure, Phelps will have just three executives reporting directly to him, including the COO. Steve O'DonnellHe will assume additional oversight. No changes to the chairman and CEO were mentioned. Jim France or Vice President Lesa France Kennedy The management changes, as outlined in the memo, include:
- Brian Herbst, senior vice president of media and production, has been promoted to EVP, chief media and revenue officer, reporting to O'Donnell. Herbst, who served as NASCAR's media chief in recent years, will assume some of the sales responsibilities of the company when the current EVP and chief revenue officer retires this year. Darryl WolfScheduled to retire in 2024. General Manager of Domestic Broadcasting Ben Baker “The combination of sponsorship and media shows how closely NASCAR is tying the two together,” said Herbst, who has been promoted to vice president of broadcast and production operations and will report to Herbst. As SBJ reported earlier this week, these changes come at a busy time for NASCAR's sponsorship sales department. Combining sponsorship and media shows how closely NASCAR is tying the two together.
- Ben Kennedy, 32, France's successor as SVP of racing development and strategy, will step up to EVP and assume the new role of EVP, chief venues and racing innovation officer, reporting to O'Donnell. He will lead a newly combined division of NASCAR's Schedule and Facilities Development group and Consumer Strategy group. Members of the newly combined group include VP/data strategy. Kari GrittonSVP and Chief Truck Property Officer promoted to SVP Chip Weil; and VP/Event Experience Michael VerlattiMr Verlatti will report to Mr Weill, who, together with Mr Gritton, will report to Mr Kennedy.
- Michelle Byron, SVP of Partnership Marketing, has been promoted to EVP, Chief Partnerships and Licensing Officer, reporting to O'Donnell, and has taken on the role of Managing Director of Licensing and Consumer Products. Megan Malateer He has been promoted to vice president of licensing and consumer products. Malateur oversees the licensing team and has forged numerous partnerships in recent years to build NASCAR's cool factor, including an expanded partnership with Disney Pixar for the “Cars” film series announced this week. Managing Director of Partnership Marketing Dana CainHe is one of the few NASCAR employees still based in New York, but has been promoted to VP/partnership strategy, reporting to both Byron and Herbst.
- Tim Clark, senior vice president and chief digital officer, has been promoted to executive vice president and chief brand officer, reporting to O'Donnell, giving NASCAR the same person overseeing marketing and communications alongside the senior vice president and chief marketing officer. Pete Jung and Vice President of Communications Eric RyanPromoted to Senior Vice President and Chief Communications Officer; Managing Director of Gaming and Esports Nick Lend Promoted to VP of Interactive & Emerging Platforms. Jung, Ryan and Rend will report to Clark. Managing Director of Research & Insights Brooks Deaton He has been promoted to vice president of data and insights, reporting to Jung.
- NASCAR SVP and Chief Communications and Corporate Responsibility Officer Eric Nyquist Now SVP and Chief Impact Officer, he will continue to lead NASCAR's sustainability and DEI efforts, reporting to O'Donnell. John Ferguson He will report to Nyquist as director of human resources. Nancy Darby He has been promoted to VP/HR and will report to Ferguson, a recent SBJ Forty Under 40 honoree.
- Scott Prime, NASCAR's vice president of strategy and innovation, a former McKinsey & Company executive and one of the company's foremost behind-the-scenes figures, has been promoted to senior vice president of global strategy, reporting directly to O'Donnell. Chad Seigler The international team will report to Prime, SVP and Chief Racing Development Officer. Jon Probst He will be promoted to vice president and chief racing development officer and will report to O'Donnell. Ron Draeger He will now report to Vice President and Chief of Staff Probst. Nicole Haves He will now report to O'Donnell, IMSA's vice president of sporting affairs. Simon Hodgson Promoted to SVP of Competition, reporting directly to the IMSA President John Doonan.
- Amanda Oliver will continue to lead the legal department as senior counsel for digital and privacy data. Nichelle Levy Levy has been promoted to vice president, deputy general counsel and privacy officer. As vice president and deputy general counsel, Levy will report to Oliver. Daniel Pancherihas been promoted to SVP and General Counsel.
- Oliver O'Donnell, EVP and Chief Administrative Officer Ed BennettHe will also serve as IMSA's CEO, making up a three-man executive team that will continue to report to Phelps, who has been focused on finalizing NASCAR partnership negotiations with the teams since inking a media rights deal worth $7.7 billion last year.
