Gillett Evernham Motorsports Appoints Tom Reddin As New CEO Former LendingTree CEO Begins Duties At Team This Week STATESVILLE, N.C. -- Gillett Evernham Motorsports today appointed Tom Reddin as its new chief executive officer overseeing the...
Gillett Evernham Motorsports Appoints Tom Reddin As New CEO
Former LendingTree CEO Begins Duties At Team This Week
STATESVILLE, N.C. -- Gillett Evernham Motorsports today appointed Tom Reddin as its new chief executive officer overseeing the team's three NASCAR Sprint Cup teams and Nationwide team.
"This is another step in our plan toward build a winning organization," said co-owner Ray Evernham. "Tom is a world-class business executive who brings a wealth of experience to Gillett Evernham Motorsports. His management style will enable this organization to maximize its production off the track so the competition side has the resources to win races and contend for championships."
Gillett Evernham Motorsports began searching for a new CEO last season with Evernham, co-owner George Gillett Jr., and President Rick Russell leading the search committee.
"We couldn't be happier with our selection," said Gillett. "I feel fortunate we could find someone of Tom's experience, expertise and passion to come lead our organization. The fans in the stands might not see Tom's face at the track but his performance is as vital as that of any team member."
Reddin's business background is a combination of consumer packaged goods, e-commerce and technology experience gained at Kraft Foods, CBS, Coca-Cola and LendingTree where he ultimately served as chief executive officer.
Reddin was an early stage member of the LendingTree start-up, joining the company from Coca-Cola in 1999, launching the "When Banks Compete, You Win" campaign, and helping to guide the company from a small private company to a public company with more than $400 million in revenue and 2000 employees. The company was ultimately sold to IAC/Interactive Corp.
"NASCAR is changing. These race teams now are top flight businesses that have to be as good off the track in the business community as they are on the track. I have grown and built businesses my entire career. To succeed in this sport in the coming years, you are going to have to have a business plan that provides a major win for your business partners, your drivers, and your employees. Success will center on people, process and technology. You have to excel in all three dimensions" said Reddin.
"This team already has some of the world's most recognizable brands in business as partners. We need to maximize those relationships as well as build new relationships. The business practices that made LendingTree, Coca-Cola, CBS and Kraft Foods successful are directly applicable to the business of racing."
Reddin's experience also involved racing and NASCAR. His love for motorsports began in childhood and continued when he worked with the late Bobby Hamilton with Country Time Lemonade in the late 80's and early 90's, and Coca-Cola's NASCAR ties in the late 1990s.
"I caught the racing bug when I was younger, prepped my own race car and competed in several amateur road racing circuits. I understand the fundamentals of what it takes to set up a race car, and what a driver goes through when the green flag drops. "But trust me, our drivers Elliott Sadler, Kasey Kahne and Patrick Carpentier don't have to worry about me taking their seat behind the wheel. As a driving coach once told me after I wrecked my race car -- "Tom, you've got too much foot, not enough talent"."
"We're playing to win at Gillett Evernham Motorsports. Our plan is to significantly expand the scope of the business, exceed our business partners' expectations, and enjoy many trips back to victory lane as we chase towards a championship."