Becomes Vice Chairman of the Board of Milwaukee Mile Holdings LLC West Allis, Wis. (July 20, 2007) -- The Milwaukee Mile today announced that Andy Randall, its President & CEO, has decided to reduce his full-time operating responsibilities...
Becomes Vice Chairman of the Board of Milwaukee Mile Holdings LLC
West Allis, Wis. (July 20, 2007) -- The Milwaukee Mile today announced that Andy Randall, its President & CEO, has decided to reduce his full-time operating responsibilities at America's Legendary Oval to pursue business interests outside of racing, but will continue to be actively involved as the newly named Vice Chairman of the Board of Milwaukee Mile Holdings LLC.
In his role as Vice Chairman, Randall will continue to work closely with Craig Stoehr, Chairman of Milwaukee Mile Holdings and a Managing Partner of Badger Pacific Equity Partners, to spearhead major strategic initiatives, as well as assist with sponsor, business partner, investor, sanctioning body and community relations. He will also remain as one of Milwaukee Mile Holdings' largest Wisconsin investors.
"Andy has become a trusted business partner and great personal friend over the past several years, and although I knew his long-term career interests lay beyond racing, having spearheaded our efforts to enter into a transaction with the Wisconsin State Fair Park in late 2005, it was at my insistence he became our full-time President & CEO when we formed our company to begin promoter operations at The Mile in January 2006," commented Craig Stoehr. "Without Andy's involvement, we would not have taken over the promoter operations of The Mile."
Randall came to The Milwaukee Mile from an extensive background in the financial services industry, both in the United States and abroad, most recently serving as President of U.S. Bank's Wisconsin operations. He has formed a strategic financial consulting firm to put to use his 30-plus years in the financial services industry.
"Andy and I have worked together to transition his day-to-day responsibilities to our full-time executive management team over the past several weeks since he made me aware of his desire to start his own strategic advisory boutique," continued Stoehr. "I have also engaged Andy's new firm to work on various matters for Blue Marlin Corp., the contemporary sportswear apparel company that Badger Pacific has a 20-percent equity interest in, as well as several other companies with which I'm involved. I look forward to continuing to work with Andy on both The Mile and other opportunities."
"I've really enjoyed my full-time responsibilities at The Milwaukee Mile, and believe I have accomplished the objectives I set for myself and the organization when we took over promoter operations at The Mile, namely to put the business on a path to profitability and sound financial ground, and establish a strong working partnership with the Wisconsin State Fair Park, our sponsors, our investor group, and the various race sanctioning bodies," Randall said. "By no means will this reduce my overall commitment to The Mile, as I will continue to be actively involved in those areas where I believe I can have the most positive and beneficial impact."
Randall remains active in the community as a board member of Summerfest, and is also involved with the Milwaukee Art Museum, the Milwaukee Symphony and the Boys & Girls Clubs, as well as being a board member of the Rock & Roll Hall of Fame & Museum in Cleveland.
"We are confident that the excellent management team Andy and I have pulled together over the last 18 months is more than capable to take The Mile to the next level in its evolution with both my and Andy's continued involvement," Stoehr added.
The Milwaukee Mile is actively preparing for it's traditional Governor's Cup racing weekend August 24th through 26th, featuring 500 miles of stock car racing and Wisconsin NASCAR superstar Matt Kenseth racing in a super late model race car. Kenseth will joining an expected 200 entries in four different stock car series competing at America's Legendary Oval, including the ARCA RE/MAX Series, ASA Late Model Challenge Series, Mid-American Stock Car Series and in the Wisconsin All-Star 50 with Matt Kenseth event. For ticket information and details on this action-packed racing weekend, visit the speedway's website, www.milwaukeemile.com.