NASCAR implements executive shakeup to prepare for new era

NASCAR Holdings today confirmed that it is embarking on a major restructuring of its business that it believes will better prepare the company for the future. President Steve Phelps this morning sent out an internal memo seen by the SBJ outlining a series of executive moves that will be made more than six months before the 2025 NASCAR season begins.

Brian HerbstIndonesian: Team ClarkIndonesian: Ben KennedyIndonesian: Scott Prime And Michelle Byron are among the NASCAR executives being given higher profiles and responsibilities. The moves will allow NASCAR staff to get used to the new structure ahead of 2025, when NASCAR will move from two to five domestic media rights partners, among other major changes.

The restructuring has included a handful of layoffs in recent weeks, including in the sponsorship sales department, as the SBJ previously reported. The exact number of people laid off is unclear. NASCAR indicated to teams that it is making the changes at a time when they are being asked to tighten spending.

Phelps hinted in the memo that he would take on a larger role at NASCAR, saying the move “will allow me to focus more on the strategic vision and global expansion of NASCAR’s racing properties, which I believe are the best and most exciting in the world.”

NASCAR also owns the IMSA sports car series, and the SBJ has reported that NASCAR is in talks to invest in Thrill One Sports & Entertainment’s Nitrocross rally racing series. Privately held, Daytona Beach-based NASCAR Holdings is facing increasing market share pressure from Liberty Media, which has boosted Formula 1’s popularity and recently agreed to buy MotoGP.

Phelps will have only three executives directly reporting to him under the new structure, including the COO. Steve O’Donnellwho will take over additional oversight. There was no mention of any changes regarding Chairman & CEO Jim French or Deputy Executive Chairman French Lesa Kennedy in the memo. Executive changes include:

• Brian Herbst, SVP of media & production, has been promoted to EVP and chief media & revenue officer, reporting to O’Donnell. Herbst — who has been NASCAR’s chief media officer for the past few years — will take over some of the sales vertical duties that will be vacated after this year by the current EVP & CRO. Daryl Wolfewho will retire after 2024. Managing Director of Domestic Broadcasting Ben the Baker has been promoted to VP of broadcast operations and production, reporting to Herbst. The change comes amid a flurry of activity in NASCAR’s sponsorship sales department, as the SBJ reported this week. Combining sponsorship and media shows how closely NASCAR views their relationship.
• Ben Kennedy, SVP of racing development & strategy, a descendant of the France family, will become EVP at the age of 32, with a new title of EVP and head of venue & racing innovation, reporting to O’Donnell. He will head up the division that recently merged NASCAR’s scheduling and facility development group with its consumer strategy group. Members of the newly merged group will include VP/Data Strategy Gritton Currywho has been promoted to SVP; SVP and Chief Track Properties Officer Wile Chips; and VP/Event Experience Michael VerlattiVerlatti reports to Wile, who along with Gritton will report to Kennedy.
• Michelle Byron, SVP of partnership marketing, has been promoted to EVP and chief partnerships & licensing officer, reporting to O’Donnell, while Managing Director of Licensing & Consumer Products Megan Malter has been promoted to VP of licensing & consumer products. Malayter has overseen a licensing team that has struck numerous partnerships in recent years to build NASCAR’s cool factor, including an expanded one launched this week with Disney-Pixar around the “Cars” film franchise. Managing Director of Partnership Marketing Dayna Caineone of the few NASCAR employees still based in NY, has been promoted to VP/partnership strategy, reporting to Byron and Herbst.
• Tim Clark, SVP and chief digital officer, has been promoted to EVP and chief brand officer, reporting to O’Donnell, as part of a move in which NASCAR will now have the same person overseeing marketing and communications, along with SVP & CMO. Pete Jung and VP/Communications Eric Ryanwho has been promoted to SVP and Head of Communications. Managing Director of Gaming and Esports Nick Rend has been promoted to VP of interactive & emerging platforms. Jung, Ryan, and Rend will report to Clark. Managing Director of Research & Insights Brooks Deaton promoted to VP of data & insights, reporting to Jung.
• NASCAR SVP and Head of Communications & Social Responsibility Eric Nyquist now serves as SVP and Chief Impact Officer and will continue to lead NASCAR’s efforts in sustainability and DEI, reporting to O’Donnell. NASCAR’s SVP and Chief HR Officer John Ferguson will report to Nyquist, while Managing Director of HR Nancy Darby has been promoted to VP/HR, reporting to Ferguson, a recent SBJ Forty Under 40 honoree.
• Scott Prime, VP/strategy & innovation and a former McKinsey & Co. executive who is one of NASCAR’s leading behind-the-scenes strategists, has been promoted to SVP of global strategy, reporting to O’Donnell. NASCAR VP and Chief International Officer Chad Siegler and international teams will report to Prime. SVP and Chief Racing Development Officer John Probst has been promoted to EVP and head of racing development, reporting to O’Donnell. ARCA President Ron Drager will now report to Probst. VP and Chief of Staff Nicole Has will now report to O’Donnell, IMSA’s VP of Competition. Simon Hodgson has been promoted to SVP of competition, reporting to the IMSA President John Doonan.
• Amanda Oliver will continue to lead the legal department, and Senior Assistant General Counsel for Digital Data and Privacy Nichelle Levy has been promoted to VP, deputy general counsel, and chief privacy officer. Levy will report to Oliver, as will VP and deputy general counsel. Daniel Pancheriwho has been promoted to SVP and general counsel.
• Oliver, O’Donnell and EVP and Chief Administrative Officer Ed Bennetwho also serves as IMSA CEO, will consist of three executives who will continue to report to Phelps. Phelps has been working hard to finalize NASCAR charter negotiations with teams after finalizing a $7.7 billion media rights deal last year.