This is big in the business of racing department, with news Zak Brown will step down as Group CEO of CSM Sport & Entertainment at year’s end.
CSM acquired Brown’s Just Marketing International, or JMI, in 2013 as part of its expanding portfolio. Brown’s JMI company has long been a company that’s brought a number of high-profile companies into motorsports as sponsors, often in F1 and/or NASCAR.
Brown’s United Autosports team has also had success on the track, and just yesterday won the LMP3 title in the European Le Mans Series with a Ligier JS P3 Nissan. Team co-owner and managing director Richard Dean is also exploring a potential American expansion for the team in 2017 as LMP3 comes Stateside in IMSA’s renamed Prototype Challenge series, the former Mazda Prototype Lites.
Given the fluid development in terms of F1’s ownership structure with Liberty Media set to buy into the sport, Brown’s personal future is always a talking point because he’s been mentioned in the past as a potential successor to F1 supremo Bernie Ecclestone.
Anyway, watch this space following this news.
Here’s the formal release from Chime:
It has been announced today that Zak Brown intends to step down as Group CEO, CSM Sport & Entertainment, at the end of the year. Chris Satterthwaite, CEO of Chime Communications, will join the CSM leadership team through to the end of the year.
During his term as CEO, Zak oversaw greater integration of the CSM group of agencies, positioning the business to take advantage of its international footprint and market-leading expertise.
Zak founded JMI, the world’s largest motorsport marketing agency, in 1995, which was acquired by CSM, the sport and entertainment division of Chime Communications, in 2013.
Zak commented: “I feel privileged to have been part of an extraordinary team during my tenure. I’m satisfied that we have achieved what I set out to do, from the successful integration of JMI into CSM through to preparing a strong business for a successful future.” He continued: “I would like to thank both Chris Satterthwaite and CSM Chairman Lord Coe for their invaluable support and commitment, without which these accomplishments and many more would not have been possible. I will take this experience forward to my next chapter in the arena I know best, motorsport.”
Chris Satterthwaite, CEO, Chime Communications commented: “I would like to thank Zak for his formidable focus, inspired and passionate leadership of CSM which has been instrumental in galvanising and preparing the business for the future. We wish him well in his future endeavours.”
Zak has agreed to continue his involvement with CSM as Chairman of the Global Advisory Board and Non-Executive Chairman of its motorsport arm, JMI.