Michael Andretti Addresses Decision To Step Down As CEO Of Andretti Global

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In late September is was discovered that Andretti had decided to relinquish his ownership stake in the racing team that he had been in charge of since buying into Team Green in 2002. The team was then molded and shaped into what we know today as Andretti Global.

Andretti penned an open letter to racing fans explaining his decision on Monday.

“I came to the decision to take a step back,” he said. “I’ve had a day-to-day operational role since even before I stepped out of the race car, and it’s time now to pass the baton to my partner and friend, Dan Towriss.”

Towriss is the CEO of Group 1001, which is the parent company of Gainbridge.

“As I make this decision for myself, my family, and this team, I know this is somewhat of a shock to many, especially you, the fans, my extended family,” Andretti said. “But I am not going away – I will be serving as an advisor for the team and will be available to help wherever I can. While you might see me less at the racetrack, know that my passion for the sport and my support for our team, and its people, will remain unwavering.”

Andretti steps aside from his leadership role with the team having left a big mark on the organization. He helped lead five drivers to victory lane at the Indianapolis 500. He also did the same for four IndyCar Series championships.

The team has also expanded to other forms of racing under his leadership, including IMSA SportsCars, Australian SuperCars, and Formula E. Andretti also spearheaded the effort for the team to try and join the Formula One grid, which was denied earlier this year. That effort is not over, according to most sources.

“My hope is that you, as Andretti fans, will keep supporting our team with the same enthusiasm and loyalty that you’ve so graciously shown myself and my family over the years,” Andretti concluded. “I’m excited about the opportunity to spend more time with my beautiful family.”

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