Jay Frye says he immediately raised his hand when Hulman & Company CEO Mark Miles broached the subject of the respected motorsports industry veteran becoming the new IndyCar president of competition and operations.
On Nov. 12, Miles announced the appointment of Frye, who will move from chief revenue officer for IndyCar and Indianapolis Motor Speedway to his new role with the sanctioning body effective Nov. 16.
Frye, 50, will be responsible for all operations, competition and technical matters for IndyCar.
“I rose my hand because this is a great league with great momentum, and I couldn’t be more proud or humbled to be part of it,” Frye said. “The No. 1 goal is to be a sanctioning body that great racers and race teams want to participate in and are proud to be a part of. I think INDYCAR is making great progress. We still have work to do, but I think it’s a simple goal but an impactful goal.”
Frye will report to Miles, who will set strategy and oversee all aspects of the series. Brian Barnhart remains vice president of competition and the race director, Vince Kremer remains vice president of operations and Will Phillips continues as vice president of technology. They will report to Frye.
“Jay Frye’s resume is perfectly aligned with our organization’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 takes over for Derrick Walker, who resigned in August. The 16-race Verizon IndyCar Series 2016 season starts March 11-13 with the Firestone Grand Prix of St. Petersburg. A first-ever street course race in the heart of Boston, a return to racing at Phoenix International Raceway and Road America, and the 100th Running of the Indianapolis 500 Mile Race are season highlights.
Miles said he surveyed Verizon IndyCar Series team owners and received unilateral support for the choice of Frye.
As CRO since November 2013, Frye led the combined team of IndyCar and Indianapolis Motor Speedway sponsorship sales, licensing and account services. In 2014, the team secured the series title sponsorship agreement with Verizon, as well as the addition and expansion of several other corporate partners including TAG Heuer and Angie’s List.
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 $100 million 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,” said Miles. “His proven ability to build mutually beneficial relationships with leading Fortune 500 companies will pay dividends for both IMS and the Verizon IndyCar Series.”