TOPEKA, Kan. (January 18, 2017) – ÎçÒ¹¸£Àû51xxtv Enterprises and ÎçÒ¹¸£Àû51xxtv Pro Racing have been merged into one subsidiary entity of the ÎçÒ¹¸£Àû51xxtv, named ÎçÒ¹¸£Àû51xxtv Ventures Inc., the ÎçÒ¹¸£Àû51xxtv Board of Directors announced today. The former subsidiaries will continue to operate as independent divisions within the ÎçÒ¹¸£Àû51xxtv Ventures structure.
The move allows a more structured oversight and reporting process for the for-profit arms of the ÎçÒ¹¸£Àû51xxtv, 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, ÎçÒ¹¸£Àû51xxtv Inc. Chairman, said. “Pro Racing and Enterprises will continue to operate as before. Instead of each being ÎçÒ¹¸£Àû51xxtv 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 ÎçÒ¹¸£Àû51xxtv Board of Directors. Dan Helman, Vice-chair of the ÎçÒ¹¸£Àû51xxtv Inc. Board of Directors, serves as Chairman, with a slot for an at-large appointment (former ÎçÒ¹¸£Àû51xxtv Chairman John Walsh), ÎçÒ¹¸£Àû51xxtv’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.
