Pikes Peak CEO resigns, unable to relocate

October 24, 2001 Pikes Peak International Hill Climb Peter Freytag, Chairman of the Board of the Pikes Peak International Hill Climb, announced today that Michael Clark, CEO since May 1999, has resigned from that position. "The Hill Climb Board...

October 24, 2001
Pikes Peak International Hill Climb

Peter Freytag, Chairman of the Board of the Pikes Peak International Hill Climb, announced today that Michael Clark, CEO since May 1999, has resigned from that position. "The Hill Climb Board of Directors, including Clark, has spent a great deal of time and effort studying the potential of the Hill Climb since the conclusion of the 2001 event. As a result, it was concluded that the Hill Climb needs a CEO with a strong local presence to interface with City Government and other local constituencies", Freytag said.

Clark seriously considered relocating to Colorado Springs from his long-time home in Los Angeles. He said, "My family and I considered relocation from all angles and determined that existing circumstances were such that a life-altering move at this stage of our lives would have been ill-advised. We love the Pikes Peak Region and have made some wonderful friends there and under more positive circumstances would have embraced relocation to Colorado Springs."

Clark will continue working as an independent representative of the Hill Climb focusing on the marketing and sponsorship side of the business. "Mike as spent the great majority of his time as CEO working on the national and international sponsorship sales and media aspects of our business, and it would be foolish of us not to take advantage of that work and his contacts throughout the motor sports advertising business", Freytag said. Clark noted "I think its important to maintain a relationship with this great old event, and my feeling is that this restructure has the potential of benefiting both the Hill Climb and me to a greater degree than it has in the past".

The Board has begun a search locally to identify the best candidates to replace Clark.

-PPIHC-

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Series Automotive , Hillclimb