CEO Jim O'Toole heads for new areas in sports marketing
P1 chairman Asif Rangoonwala has announced he will make a full-time return to running the championship and the P1 Management team. The move coincides with the imminent departure of current CEO Jim O’Toole, who is moving on to new business ventures at the end of November.
O’Toole – who has worked with a number of major brands, events and franchises in his 20-year sports marketing career – joined Powerboat P1 as Commercial Director in August 2007, and was made CEO in March 2008. Alongside Commercial Director Robert Wicks and Racing and Event Director Andy Hindley, he has helped establish a new sporting, technical and marketing strategy for the championship over the last 15 months, and encouraged new teams and venues into the sport.
Successful entrepreneur Rangoonwala has continued to maintain his close involvement with the Powerboat P1 championship during this period. He has now announced that he will return to running the series in a more hands-on capacity following the recent sale of his Eurobuns bakery business.
“Following my decision to dedicate myself full-time to the business going forward, it became apparent that there was a duplication of roles and, consequently, Jim has decided to take up new challenges in the sports marketing arena,” Rangoonwala explained.
“Since joining the business in August 2007, Jim has played a leading role in taking Powerboat P1 to a new level on both the racing and commercial fronts. His commitment and drive have been outstanding and we wish him well in his new ventures. Going forward, I will be devoting my entire energy to Powerboat P1 as we embark on the exciting next stage of our journey.”