Jay Frye has been appointed as Derrick Walker's replacement in the role of IndyCar's President of Competition and Operations.
Frye has served as the Chief Revenue Officer for the sanctioning body since November of 2013 and is credited with bringing Verizon to the series.
Rod Davis will now replace him in his now former position as the Chief Revenue Officer. Davis formerly served in senior executive roles with the Indiana Sports Corporation, USA Gymnastics, RCA Championships and USA Swimming
"Jay Frye's resume is perfectly aligned with our organization's strategic vision," said Hulman & Company CEO Mark Miles in a release. "He has both series and team experience, having successfully transformed and led Red Bull Racing and MB2 Motorsports before joining Hulman Motorsports. As our new President of Competition and Operations, he is ready to ensure the Verizon IndyCar Series continues to present great racing."
The 50-year-old also has roots in NASCAR, founding MB2 Motorsports. He also held a management position with Red Bull Racing, helping the team reach the Chase for the Sprint Cup in 2009.
Two of the most respected IndyCar stakeholders - iconic team owners Roger Penske and Chip Ganassi, offered their thoughts on the news.
"Jay Frye's vast understanding of our industry's entire field of play, developed most especially through his strong work in NASCAR, makes him uniquely prepared for this new opportunity," said Penske. "He understands our technical and competition issues and he will develop solutions that work for fans, teams and the series. As the new President of Competition and Operations, he is prepared to ensure IndyCar's positive momentum keeps moving forward."
"Jay Frye brings an exceptional resume, tireless work ethic and proven ability to produce results to his new role with IndyCar," added Ganassi. "During our years competing against each other in NASCAR, I witnessed firsthand Jay's ability to successfully run a top-notch organization. He's a proven leader and as a team owner I am excited to work with him as we embark upon a truly monumental season."