TOPEKA, Kan. (January 18, 2017) – Â鶹ÊÓƵ Enterprises and Â鶹ÊÓƵ Pro Racing have been merged into one subsidiary entity of the Â鶹ÊÓƵ, named Â鶹ÊÓƵ Ventures Inc., the Â鶹ÊÓƵ Board of Directors announced today. The former subsidiaries will continue to operate as independent divisions within the Â鶹ÊÓƵ Ventures structure.
The move allows a more structured oversight and reporting process for the for-profit arms of the Â鶹ÊÓƵ, and provides a number of administrative advantages for the businesses.
“To the outside world and for the customers and clients of the entities, this change will appear seamless,” Lee Hill, Â鶹ÊÓƵ Inc. Chairman, said. “Pro Racing and Enterprises will continue to operate as before. Instead of each being Â鶹ÊÓƵ wholly-owned corporate entities, they are now divisions of a single wholly-owned corporate entity, with some administrative tasks, such as accounting, combined.”
The oversite of Ventures is a five-person corporate board, which reports to the Â鶹ÊÓƵ Board of Directors. Dan Helman, Vice-chair of the Â鶹ÊÓƵ Inc. Board of Directors, serves as Chairman, with a slot for an at-large appointment (former Â鶹ÊÓƵ Chairman John Walsh), Â鶹ÊÓƵ’s senior finance employee (Mindi Pfannenstiel), and the respective Division presidents (Mike Collins and Roby Clark). Each division’s current board will remain active as a committee to guide the respective operations.
