NickHolt Posted November 19, 2013 Report Share Posted November 19, 2013 Circuit of The Americas™ announces executive changes AUSTIN, Texas (Nov. 19, 2013) – Following a carefully planned transition period, Circuit of The Americas (COTA) today announced that Steve Sexton is departing as its chief executive officer. Jason Dial, company president, will assume the role of CEO. “This was a tough decision for me to make, but the timing is right,” Sexton said. “Our team’s accomplishments in the last three years have been remarkable, and I am very proud and privileged to have worked with a group of experienced and dedicated individuals, who’ve proven time and again that nothing is impossible. Our just-completed Formula 1 United States Grand Prix is further evidence of the exceptional experience that the COTA can deliver. And to see the way that the City of Austin, Travis County and the State of Texas have embraced our accomplishments is incredibly rewarding. “We’ve done a considerable amount of heavy lifting the past few years, and the time is right for me to pass the executive torch to Jason Dial, who is well positioned to lead COTA into its next chapter. The enormous effort required to build and launch an internationally renowned company in a matter of months has left little time for anything but work. I’m looking forward to taking a break and spending time with my family who sacrificed a lot while we were fully focused on opening the circuit and putting COTA on a path for long-term success. I am so proud of the team we’ve assembled and the impact they’ve had in a short amount of time. Big things are on the horizon for Circuit of The Americas, and I am thrilled to have been here to start the COTA story.” COTA chairman Bobby Epstein said, “Our investors, friends, and community are grateful for Steve’s tremendous accomplishments. He has led us from our beginning and has helped create a vibrant, multi-dimensional company. While building a first-class roster of professionals, he tirelessly navigated us through rough waters and successfully gave COTA a solid foundation. We wish Steve the very best as he takes a well-deserved break and know that his futures endeavors will likewise be great.” Link to comment Share on other sites More sharing options...
NickHolt Posted November 19, 2013 Author Report Share Posted November 19, 2013 I am having a hard time believing this press release. Whenever you read that someone drawing a big-league salary is leaving to spend more time with the kiddos, it's time to start reading between the lines. Although I have no inside information to go on, I suspect one of two scenarios actually took place: 1) Epstein fired him, maybe over "ticketgate" and disappointing attendance at all CoTA events since the 1st F1 race. 2) Sexton had it up to here and told Epstein bye-bye, or some such phrase. Anyone have an insight? Nick Link to comment Share on other sites More sharing options...
AustinF1 Posted December 6, 2013 Report Share Posted December 6, 2013 Hearing through the grapevine now that Dan Allen is out as CFO at COTA. No official confirmation as of yet & no further details. Link to comment Share on other sites More sharing options...
AustinF1 Posted February 4, 2014 Report Share Posted February 4, 2014 Oh btw, COTA finally took Dan Allen's photo down off their "Team" page a week or two ago. Link to comment Share on other sites More sharing options...
NickHolt Posted February 4, 2014 Author Report Share Posted February 4, 2014 Pretty major change right there. Hope they don't lose a bunch of financial and actual attendance records in the move... Link to comment Share on other sites More sharing options...
AustinF1 Posted February 5, 2014 Report Share Posted February 5, 2014 LOL...Yeah, so now the CFO & Sexton are gone, and some accountants quit before that apparently. Hmmm... Link to comment Share on other sites More sharing options...
NickHolt Posted February 5, 2014 Author Report Share Posted February 5, 2014 "Don't worry, folks! It's all part of the show!" said the announcer as the tightrope walker lay splattered on the floor.... Link to comment Share on other sites More sharing options...
AustinF1 Posted February 24, 2014 Report Share Posted February 24, 2014 OBTW, in the latest COTA staff carnage, they've let go EVP Bruce Knox and hired Richard McComb as CFO. We also heard that the head of HR has quit, along with the rest of her HR staff. The hits just keep coming. Link to comment Share on other sites More sharing options...
AustinF1 Posted February 24, 2014 Report Share Posted February 24, 2014 So...for those of you keeping score at home: Founder & USGP Promoter Tavo Hellmund out MotoGP Promoter Kevin Schwantz out CEO: Steve Sexton out, Jason Dial in CFO: Dan Allen out, Richard McComb in EVP: Bruce Knox out Jason Wade out (Track Ops Dir.) Marty Hunt out (Facilities Ops Dir., left to GPoA) Kevin Tyo out (Dir. of Security) HR director out HR personnel out Accounting personnel out Most of Track personnel out V8SC gone SCCA gone Historic GP gone World Challenge gone Porsche GT3 Cup gone Track Days almost all gone Most of this is in the last year...last few months even. Did I miss anyone? Link to comment Share on other sites More sharing options...
AustinF1 Posted February 24, 2014 Report Share Posted February 24, 2014 Autoweek just followed up on what we posted earlier: Longtime Circuit of the Americas executive out, according to reports Executive VP Bruce Knox leaves Formula One venue http://www.autoweek.com/article/20140224/f1/140229903#ixzz2uGFBVpuT Follow us: @AutoweekUSA on Twitter | AutoweekUSA on Facebook The Circuit of the Americas near Austin, Texas, has apparently lost one of its longest-tenured, most experience executives with the recent departure of Bruce Knox, executive vice-president of COTA. The circumstances could not be confirmed. “Per company policy,” said Julie Loignon, vice president of COTA's public and media relations, “we can't comment on personnel matters.” Knox's history with COTA began in 2010, long before ground was broken for the road course, making him easily one of the facility's longest-tenured employees. He was installed into the project by minor investor Red McCombs, the mercurial 86-year-old San Antonio magnate who has owned Clear Channel Communications, multiple auto dealerships, the Minnesota Vikings, the Denver Nuggets and San Antonio Spurs sports teams. McCombs controls McCombs Enterprises, where Knox worked. In 2011, Knox was President and CEO of Formula One United States, charged with bringing the F1 race to COTA. Once that was on track, Knox remained with COTA as its executive vice-president. Knox was one of the few COTA executives with any experience in the automotive realm: Previously, he was CEO and director of Interactive Remarketing, a company he co-founded and grew to become the largest seller on eBay Motors, managing asset portfolio liquidation for clients such as Bank of America, HSBC, Capital One, Wells Fargo, Americredit and National City. The company was acquired by McCombs Partners in 2005. His association with eBay Inc. began in 1999 when eBay acquired his company. Subsequently, Knox served as chief operating officer and chief marketing officer of an eBay subsidiary from 1999-2003. The entity served as the foundation for eBay Motors and quickly evolved to become the world's largest online automotive marketplace. In addition to assisting in the launch of the eBay Motors platform, Knox was also charged with running a national series of vintage car auctions that formed the world's largest vintage car auction company. Knox, regarded as personable and accessible to many who covered COTA and its affairs, is likely to be missed by media members and business associates alike. So, the bold portion raises a question for me. When we found out about this (we heard he was fired) my 1st thought was, with Knox being McCombs's guy in the COTA project, what does his departure mean in terms of the McCombs investment position? Link to comment Share on other sites More sharing options...
NickHolt Posted February 24, 2014 Author Report Share Posted February 24, 2014 Mr McCombs is not dumb. He probably pulled his main man and his money (however much that was) before the inevitable collapse of CoTA. CoTA is a great concept and came into being at exactly the right time. And if Tavo were still running the show, we wouldn't be speaking of a downward spiral and keeping track of folks who are jumping ship. Nick Link to comment Share on other sites More sharing options...
AustinF1 Posted February 24, 2014 Report Share Posted February 24, 2014 Mr McCombs is not dumb. He probably pulled his main man and his money (however much that was) before the inevitable collapse of CoTA. CoTA is a great concept and came into being at exactly the right time. And if Tavo were still running the show, we wouldn't be speaking of a downward spiral and keeping track of folks who are jumping ship. Nick Yup. Link to comment Share on other sites More sharing options...
j.j.&s.racing Posted July 25, 2014 Report Share Posted July 25, 2014 I would get in touch with the track to see what is going on.this isn't the place to find out. at least that's what the editer keeps saying. lol Link to comment Share on other sites More sharing options...
NickHolt Posted July 25, 2014 Author Report Share Posted July 25, 2014 This is all public information, J.J. & S racing. These are not rumors and the fact is that you and I and other taxpayers are paying for this track. This information is all readily available from reputable sources and not information picked up in the pits. Ever since Tavo Hellmund was booted, the public media documents a history of mismanagement and/or incompetence at COTA. Nick Link to comment Share on other sites More sharing options...
j.j.&s.racing Posted July 25, 2014 Report Share Posted July 25, 2014 Lol Link to comment Share on other sites More sharing options...
AustinF1 Posted August 23, 2014 Report Share Posted August 23, 2014 So...for those of you keeping score at home: Founder & USGP Promoter Tavo Hellmund out MotoGP Promoter Kevin Schwantz out CEO: Steve Sexton out, Jason Dial in CFO: Dan Allen out, Richard McComb in EVP: Bruce Knox out Jason Wade out (Track Ops Dir.) Marty Hunt out (Facilities Ops Dir., left to GPoA) Kevin Tyo out (Dir. of Security) HR director out HR personnel out Accounting personnel out Most of Track personnel out V8SC gone SCCA gone Historic GP gone World Challenge gone Porsche GT3 Cup gone Track Days almost all gone Most of this is in the last year...last few months even. Did I miss anyone? Continuing the trend, now COTA outsources F1 Fan Fest 2 months before USGP. Fan Fest was one of the things I & most people thought they got right, at least superficially. A lot of people have left recently, including spokesperson Julie Loignon, the 360 Amphitheater event director, & others from what we hear, and now they've changed their food vendor & outsourced Fan Fest. Major moves, just before what's by far their biggest event. Link to comment Share on other sites More sharing options...
NickHolt Posted August 23, 2014 Author Report Share Posted August 23, 2014 Tavo must be shaking his head about now... Link to comment Share on other sites More sharing options...
HiTech Posted August 26, 2014 Report Share Posted August 26, 2014 Tavo must be shaking his head about now... FROM LAUGHTER IF IT DID NOT HURT SO MUCH ..BUT I BET HE IS OVER IT AND HAS ENJOYED THE SHOW ..HEY TV SHOW WHY NOT ...NAME THE IT THE RICH AND THE STUPID ... BOTH THE SAME . Link to comment Share on other sites More sharing options...
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