Mark Miles, CEO of Hulman & Company, announced today that Jay Frye has been named President of Competition and Operations for IndyCar. Frye, a well-regarded motorsports industry veteran, has served as the Chief Revenue Officer for Hulman Motorsports for the past two years. Prior to that, he spent many years in NASCAR, leading race teams and securing major sponsorship for the sport. He won four NASCAR Cup races as team manager.

“Jay Frye’s resume is perfectly aligned with our organization’s strategic vision,” said Miles. “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.”

In his new position, Frye will be responsible for all operations, competition, and technical matters for IndyCar. He replaces Derrick Walker, who stepped down in August. Frye will report directly to Miles, who has taken on a bigger role within the organization since Walker’s departure. Those that know Frye the best, are confident in his ability to excel in this new role.

Roger Penske and Chip Ganassi weighed in on the decision to name Frye to the position. “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 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 Frye brings an exceptional resume, tireless work ethic and proven ability to produce results to his new role with IndyCar,” said Ganassi. “During our years competing against each other in NASCAR, I witnessed firsthand Jay’s ability to successfully run a top-notch organization. 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.”

Rod Davis will be taking over Frye’s previous position. Davis too has an impressive resume, serving in senior executive roles with the Indiana Sports Corporation, USA Gymnastics, RCA Championships, and USA Swimming. He has secured nearly $100 million in revenue through sponsorships, broadcast revenue, and event fees over the course of his career, which includes working for companies such as Panasonic, Coca-Cola, John Hancock, VISA, and Adidas.

Full audio of the teleconference announcement can be heard below, courtesy of IndyCar.

Miles was quick to address the role that Davis will play in his new position. “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. His proven ability to build mutually beneficial relationships with leading Fortune 500 companies will pay dividends for both IMS and the Verizon IndyCar Series.”

Robin Miller wrote an excellent piece on the tasks that lie ahead for Frye. Below is a video put together by IndyCar.