NASCAR CEO George Pyne Shifts Gears

From Boston Herald

Milford’s George Pyne is switching gears.

After a very successful 10-year run at NASCAR, Pyne confirmed yesterday that he is stepping down as the CEO for stock car racing’s governing body to become the president of IMG Worldwide, Inc, the sports marketing company announced this week.

The Herald first reported Pyne’s resignation on Saturday.

Pyne will report to IMG’s newly-appointed chief executive Ted Forstmann beginning Feb. 20, the day after the 48th running of the Daytona 500. Forstmann has taken over the helm at IMG after the resignation of former chief executive, Peter Johnson.

“I am very enthusiastic about the opportunity to join the IMG team,” Pyne said in a prepared statement. “(Forstmann’s) record of building great companies is unparalleled and I am extremely pleased to become part of his team.”

Pyne will oversee IMG’s sports and entertainment business.

IMG was founded by the late Mark McCormack on a handshake from legendary golfer Arnold Palmer in 1960 and has become a leader in the sports entertainment industry with 100 offices worldwide, including Boston.

Tiger Woods is among IMG’s current clients and the agency has managed the careers of such stars as Jack Nicklaus, Chris Evert, Wayne Gretzky, Joe Montana and Pele.

Pyne began his NASCAR career in 1995 working in the licensing department in Charlotte, NC, and rose to become COO in 2002. During his stint as COO, Pyne was instrumental in making NASCAR one of the most popular sports in the nation. He is also responsible for putting together NASCAR’s multimillion-dollar television package with four top networks.

In 2003, Pyne was also the catalyst in creating NASCAR’s research and development center in Concord, NC. That same year, Pyne struck another blockbuster deal with telecommunications giant Nextel, the company that currently sponsors the sports top racing circuit, the NASCAR NEXTEL Cup Series.

“We are very pleased to have George join our executive team,” Forstmann said. “He has been at the forefront of building one of the most successful sports franchises of all time and his achievements at NASCAR will help us execute upon IMG’s growth strategy.”

NASCAR chief executive Brian France lauded Pyne’s work yesterday.

“He made a big contribution to (NASCAR) over a 10-year period,” said France. “He’ll be missed. We wish him well.”

The Pyne family has been synonymous with football for three generations. Pyne’s father, George, played defensive tackle for the Boston Patriots and his grandfather suited up for Providence Steamrollers in the NFL’s first season. His brother, Jim, an offensive lineman, played nine seasons in the NFL.

Pyne also earned all-Ivy and all-New England honors on the gridiron at Brown University (Class of ’89).

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