The Circuit of The Americas in Austin, Texas has parted company with CEO Jason Dial after two years.
Dial assumed the role of CEO at COTA in November 2013 following the departure of Steve Sexton, but has been relieved of his position just nine days after the track hosted the 2015 Formula 1 United States Grand Prix.
COTA issued a short statement confirming Dial’s departure on Tuesday:
“After careful consideration, the Circuit of The Americas (COTA) board of directors has decided to part ways with CEO Jason Dial.
“We appreciate Jason’s hard work in his two years at COTA, but it’s time to move in a different direction. As we embark on a busy year, we are committed to delivering an outstanding fan experience and world-class events.
“While a search for replacement is underway, an interim executive committee of the board will lead COTA’s day-to-day operations.”
COTA currently finds itself recovering from a difficult United States Grand Prix weekend that was blighted by torrential rain and localized flooding, causing FP2 to be cancelled and qualifying to be postponed until Sunday.
Despite posting a three-day attendance of 224,011 and 101,667 on race day, circuit chairman Bobby Epstein told the Austin-American Statesman last week that it had been “a financially devastating weekend for the company”.
Epstien added: “We lost millions on concessions, and we suffered from some fans having such a bad experience they won’t be back, though I hope we can change their mind.”
Following the initial comment from COTA, Dial has now issued his own statement:
“I want to thank my team who have worked tirelessly in a challenging environment to make Circuit of The Americas something special for Austin and Central Texas. We made tremendous progress over the past two years.
“My team’s performance on F1 weekend with the unprecedented rains and winds was extraordinary. I also want to thank Red and Charline McCombs, for whom I have great respect and admiration.”