RICHARD PETTY MOTORSPORTS BROADENS MANAGEMENT TEAM

RICHARD PETTY MOTORSPORTS BROADENS MANAGEMENT TEAM

Brian Moffitt Takes Over as CEO, Mike Hargrave to Lead Team Marketing Efforts

CONCORD, N.C. (July 28, 2011) – Richard Petty Motorsports (RPM) officials today announced several changes to the NASCAR Sprint Cup team’s executive lineup. Brian Moffitt, who previously headed up the RPM sales and marketing department, has been named chief executive officer for the multi-car team and Mike Hargrave has taken over the EVP, sales and marketing position. In addition, Robbie Loomis has been named chief operating officer for the organization.

“We’ve worked hard to put together a solid executive management team,” stated team co-owner Richard Petty. “Brian Moffitt has played an important role in the Petty organization for many years. He knows the ins and outs and strengths and weaknesses of this organization and he was an obvious choice to lead the team.

“We’re excited about the addition of Mike Hargrave as well,” continued Petty. “He is extremely well-respected in the industry and brings a tremendous amount of knowledge and experience to our sales and marketing team. We’ve beefed up our sales department and put a solid plan in place to ensure that there is growth and success in the future of Richard Petty Motorsports.”

Moffitt previously served as executive vice president of sales and marketing for Richard Petty Motorsports. For the past 15 years, he has overseen the acquisition of sponsorship and services for team owner Richard Petty and his entries in NASCAR. Prior to his current position, he held the position of sales representative at United Parcel Service.

Hargrave comes to RPM most recently from Bank of America where he served as senior vice president, global sponsorship marketing. In that role, Hargrave oversaw strategy and activation development for the organization’s motorsports sponsorship platform.

Andrew Murstein, team co-owner, concludes, “We will continue to add strong management and provide all of the financial resources needed to take Richard Petty and the entire organization to the next level and back in the winner’s circle where they belong.”

About Richard Petty Motorsports

Known to many simply as “The King,” Richard Petty is the most decorated driver in the history of NASCAR racing, winning a record 200 races and seven NASCAR Sprint Cup Series championships during his illustrious career. In late 2010, Petty partnered with Medallion Financial and Douglas Bergeron to purchase the assets of Richard Petty Motorsports. Richard Petty Motorsports fields two teams in competition in the NASCAR Sprint Cup Series. AJ Allmendinger wheels the famous No. 43 Ford Fusion and Marcos Ambrose drives the No. 9 machine with sponsorship from Stanley and DEWALT. For more information about the Concord, N.C.-based race team, please visit www.richardpettymotorsports.com.

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