International Speedway Corp. is considering promoting Daytona International Speedway President Joie Chitwood into a new senior role in the organization, a move that would see him vacate the role of president of the track, sources said.
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Daytona President Joie Chitwood is expected to fill a senior role with track owner ISC.
Photo by: GETTY IMAGES
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ISC has been working with Joseph Bailey, managing director of Connecticut-based executive search firm RSR Partners’ sports industry practice, for several months to try to fill the Daytona president position, sources said, which Chitwood has held since being promoted in 2010 from his previous role of ISC vice president of business operations. The search firm has been in the marketplace seeking viable candidates.
While the situation is still fluid, sources said, ISC is targeting Chitwood for a senior management role where he would help oversee the strategy, operations and execution of the publicly traded company’s 12 speedways and one dragstrip. Chitwood’s precise new title is yet to be finalized, and he already technically holds the position of executive vice president of ISC. But sources said the new role would be more akin to a chief operating officer, which could end up being the title.
Sources said ISC has yet to hire a replacement for Chitwood, but how far along the corporation is — and whether it is considering internal candidates — is unclear.
Chitwood, 47, spearheaded the successful, $400 million renovation of Daytona that took three years to complete and came in on time and under budget. Sources said it’s been a not-so-hidden secret in industry circles that Chitwood might look to move on once the project was completed.
ISC did not comment for this story by press time. Chitwood did comment on the situation in an interview last month but denied that a move was imminent.
“I don’t have a plan right now in terms of ‘X’ for me; we’re so focused on really getting through [Bike Week, which ended last week] and then through the Country 500 [country music festival in May],” he said. “There’s no formal anything right now that I’ve got to share about me. If there were, I’d be happy to share it. … I still have work to do here, and I’m really invested in what we’re doing.”
Chitwood said via email last week that there’s been no change in his status since that interview.
After finishing the Daytona renovation, ISC has now turned its attention toward the next tracks it will renovate: Richmond International Raceway and Phoenix International Raceway. The company also is increasingly focusing on nonracing activities — like the mixed-use One Daytona development across the street from Daytona International and the casino at Kansas Speedway — and sources said this move could allow ISC President John Saunders to focus more on non-core operations while Chitwood oversees the speedways.
Chitwood’s prior stops before ISC include a seven-year stint at Indianapolis Motor Speedway, where he served in multiple roles, including president and chief operating officer, from 2002 through 2009. While with IMS in 2009, he was a SportsBusiness Journal Forty Under 40 honoree.
