UPDATED: Ousted CEO Jason Dial responds with his own statement
The Circuit of The Americas has announced it has released its CEO of two years, Jason Dial.
“After careful consideration, the Circuit of the Americas (COTA) board of directors has decided to part ways with CEO Jason Dial,” the board said in a written statement on Tuesday afternoon.
“We appreciate Jason’s hard work in his two years at COTA, but it’s time to move in a different direction.
"As we embark on a busy year, we are committed to delivering an outstanding fan experience and world-class events.
"While a search for replacement is underway, an interim executive committee of the board will lead COTA’s day-to-day operations.”
Dial joined Circuit of The Americas as track president, after serving as CMO for the Tampa Bay Buccaneers. However, Dial was made CEO just a month later when Steve Sexton departed the role.
Dial's release comes less than a month after a rain-drenched Formula 1 race "lost millions" according to COTA chairman Bobby Epstein. Following the effects of Hurricane Patricia, Epstein told the Austin American Statesman that the US Grand Prix was "a financially devastating weekend for the company…
"We suffered from some fans having such a bad experience they won't be back, although I hope we can change their mind."
Dial responded with his own statement.
"I want to thank my team who have worked tirelessly in a challenging environment to make Circuit of The Americas something special for Austin and Central Texas. We made tremendous progress over the past two years.
"My team’s performance on F1 weekend with the unprecedented rains and wind was extraordinary. I also want to thank Red and Charline McCombs, for whom I have great respect and admiration."