KNOXVILLE, Tenn. -- Jimmy Haslam, the soon-to-be-official new owner of the Cleveland Browns, is stepping down as the CEO of Pilot Flying J and Maxum Petroleum, and will now serve as chairman for those companies.
The news release today from Pilot Flying J reflects his expectation that the NFL will approve his ownership in October.
Pilot Flying J, one of the largest privately held companies in the nation, announced today that John Compton, president of PepsiCo, will assume the role of chief executive officer of the company.
Compton is a native Tennessean and a 1983 graduate of the University of Tennessee. Upon graduating from college, he began his PepsiCo career working at a Frito-Lay plant in Pulaski, Tennessee.
He and his wife, Cindy, were leaders in the Campaign for Tennessee. Compton is a member of the board of directors of First Horizon Corporation -- Tennessee's largest banking institution.
The family will be relocating to the Knoxville area soon.
Jimmy Haslam has served as CEO of Pilot since 1994. He will assume the role of chairman of Pilot Flying J and Maxum Petroleum, and his father, Jim Haslam, who founded the company with one gas station in Gate City, Virginia in 1958, will be titled founder and chairman emeritus. Pilot Flying J and its recently acquired Maxum Petroleum have annual sales in excess of $30 billion.
The combined companies employ over 25,000 people and conduct business in 44 states in the United States as well as six provinces in Canada.
Pilot Flying J is the largest operator of travel centers and truck stops in North America, and Maxum Petroleum is the largest supplier of diesel fuel to drilling rigs and hydraulic fracturing units in the United States.
In addition, Pilot Flying J announced that Mark Hazelwood had been promoted to president and Ken Parent to executive vice president.
Hazelwood, a 27-year veteran of Pilot Flying J, has been the primary architect of the company's national truck stop strategy while Parent has been in charge of day to day operations of the company's retail stores.