RUSTY WALLACE, INC. ANNOUNCES LEADERSHIP CHANGE
Rob Williams Named Senior Vice President and Chief Operating Officer
MOORESVILLE, NC (December 5, 2006)--Rusty Wallace, Inc. (RWI) announced today that former banking executive, Rob Williams, has been named the company's Senior Vice President and Chief Operating Officer. Williams will report directly to President and Chief Executive Officer, Rusty Wallace. Noted Wallace, "I'm very excited to announce the new addition to our organization. Rob is a very bright individual and I have a lot of confidence in his abilities. He has been around the racing industry for quite some time now, so I feel sure that he'll be able to step in and contribute almost immediately."
In assuming his new post, Williams fills the role formerly held by Dick Paysor, Wallace's longtime business manager who recently resigned his position. "As excited as I am about Rob, this move is almost bittersweet," Wallace stated, "Dick is a great friend of mine. He's a very talented businessman and has done a great job for us. His family is very important to him and I'm happy that he can now spend more time with them. He's going to be able to pursue some of his other interests and I wish him the best."
Williams comes to RWI from Wachovia Bank's Wealth Management group, where he served as financial planner to many NASCAR drivers. A native of Concord, NC, Williams earned a B.S. in Business Administration from UNC-Chapel Hill's Kenan-Flagler Business School and is a Certified Financial Planner.
In his new role, Williams will oversee the operations of RWI and its various affiliates, including RWI Racing, LLC, its NASCAR Busch Series team and RWI Promotions, LLC, its promotional show car business. Williams will also serve as Wallace's personal business manager and oversee his other interests, including his six automotive dealerships located in eastern Tennessee.
In a separate, yet related, move, RWI also announced that Morey Herendeen, former RWI Racing Shop Foreman, has been named the team's General Manager. Herendeen will report to Williams and oversee the day to day operations of RWI Racing, assuming duties also previously held by Paysor. Said Wallace, "Morey has done a great job in getting the team organized over the past year and I'm really looking forward to seeing what he can do in his new role. I have no doubt that he'll do a great job."