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Old 12-11-2008, 01:17 PM   #1
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P1 All Change at the Top

News has just reached H2O Full Throttle that P1 have decided to combine the role of CEO with that of its Chairman. We understand that from the end of November 2008 Asif Rangoonwala will take sole charge of P1, which leaves no position for the current CEO Jim O'Toole. We also understand that it was an amicable split between the two parties involved.
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Old 12-11-2008, 01:19 PM   #2
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Good luck for the future Jim.
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Old 13-11-2008, 08:21 AM   #3
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Doesn't immediately strike me as a good move for P1.
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Old 13-11-2008, 10:45 AM   #4
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I agree it would not seem a good move no doubt done on a cost cutting basis, however JOT having got himself up to speed with the sport appeared to be a good man for the job with regular posts on boating forums here and the USA to keep his P1 enthusiasts informed, I had noted that in the last few months Asif Rangoonwala had started to post instead which surprised me, I had assumed a man in his position, ie running day to day company's and especially in a worsening recession would want to keep his finger on the button and not end up diluting his time by running a sporting venture such as P1 ... only next season will tell if this was a wise move or not
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Old 13-11-2008, 04:44 PM   #5
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Quote:
Originally Posted by cfun View Post
I had assumed a man in his position, ie running day to day company's and especially in a worsening recession would want to keep his finger on the button
Rangoonwala has recently sold the 'EuroBuns' business, so I guess he's got some time on his hands.
I wouldn't have thought JOT's tenure was long enough to really get his teeth into it / make lasting change for the better. Certainly not the kind of crack of the whip I would expect if the employers wanted results.
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Old 13-11-2008, 06:56 PM   #6
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Interestingly Dave (Geriatric on boatmad) of World of Powerboats says ...

''It's ironic that in our next issue out on Tuesday, we carry a feature entitled 'Ten Minutes with Jim O'Toole'. One of the questions we asked "Is Powerboat P1 Chairman Asif Rangoonwala happy with the way P1 is being run" and O'Toole replied "Well I haven't been sacked yet ". Days later, in a short statement from Mr Rangoonwala to Team Owners, the Chairman announces that P1 Chief Executive Jim O'Toole will be leaving his post at the end of November and Mr Rangoonwala will be taking over running the P1 empire. Asif wishes Jim all the best for his future''.
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Old 26-12-2008, 09:30 PM   #7
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typed powerboats in youtube and it came up with a video about Asif Rangoonwala. He talks out his Business success and Powerboat P1. And that he wants to become the next Bernie Ecclestone.

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