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Roger Penske 2009 Indy 500 Carb Day.JPG
Roger Penske
Born 20 1937 (1937-Template:Pad2digit-Template:Pad2digit) (age 83)
Shaker Heights, Ohio
Died {{{death_date}}}
{{{death_place}}}
Formula One career
Nationality USAflagsmall American
Years 1961 - 1962
PenskePC23

1994 Indy 500 winning Penske PC23 driven by Al Unser, Jr.

Roger Penske 2005

Roger Penske in 2005.

Roger S. Penske (born February 20, 1937) is the owner of the automobile racing team Penske Racing, the Penske Corporation, and other automotive-related businesses. Penske also owns the most victories as an owner in the Indianapolis 500; 15 owner victories. A winning racer in the late 1950s, Penske was named 1961's Sports Car Club of America Driver of the Year by Sports Illustrated. After retiring from driving a few years later, he created one of the most successful teams in IndyCar Series and NASCAR racing. He is also known by his nickname of "The Captain".[1]

He also is one of the corporate directors at General Electric and was chairman of Super Bowl XL in Detroit, Michigan. He was previously on the board of Home Depot and Delphi Automotive before resigning to chair the Detroit Super Bowl Committee. He has an estimated net worth of $1.1 billion.[2] He is a 1959 graduate of Lehigh University in Pennsylvania, where he was also a member of the Phi Gamma Delta fraternity.

Early lifeEdit

Born in Shaker Heights, Ohio,[3] Penske's father was a corporate executive for a metal fabrication company and encouraged his son to become an entrepreneur.[4] As a teenager he bought older cars, repaired them and sold them at a profit from his family's home in Cleveland, Ohio. In 10 years, Penske raced and sold about 32 cars.[5]

Racing careerEdit

Starting in 1958, Penske purchased, raced and sold race cars, and was very successful both financially and on the track. Penske made his first professional racing start at the now-abandoned Marlboro Motor Raceway in Upper Marlboro, Maryland.

By 1960, he was a well-known race car driver (Sports Illustrated SCCA Driver of the Year), winning prestigious races until 1965, when he retired as a driver, to concentrate on his first Chevrolet dealership in Philadelphia, PA. He subsequently began his now famous Penske Racing in 1965, as well. Interestingly enough, although Penske competed in two Formula One Grands Prix, and won a NASCAR Pacific Coast Late Model race at Riverside in 1963, he never ran the Indy 500. In fact, he was offered a rookie test at Indianapolis, but turned it down for business reasons. Rookie Mario Andretti stepped in for Penske to take that test at Indianapolis.

His team first competed in the Indianapolis 500 in 1969, winning that event in 1972 with driver Mark Donohue, and their first NASCAR win was in 1973. His teams have won many races in the subsequent years. He closed his European-based Formula One business in 1977. In 1982, he became the Chairman of the Penske Truck Leasing business.

Penske Racing now operates a NASCAR team with drivers Brad Keselowski, Joey Logano, and Sam Hornish Jr. It also operates an Indy Racing League team composed of Hélio Castroneves, Ryan Briscoe, and Will Power. Previously, Penske Racing ran cars in the CART series that included some of the best drivers of the time, including Gary Bettenhausen, Tom Sneva, Mario Andretti, Bobby Unser, Al Unser, Al Unser, Jr., Emerson Fittipaldi, Rick Mears, Danny Sullivan, Paul Tracy and Gil de Ferran. After many years of trying, his team won the Daytona 500 in 2008 with Ryan Newman driving.

In 2005, Porsche set the stage to make a comeback in sports car racing in the United States and chose Penske Racing to run in the LMP2 class of the American Le Mans Series (ALMS). The Penske Porsches took center stage in 2006, winning immediately, including victories at Mid-Ohio finishing 1-2 ahead of Audi (competing in a higher classification) and the annual Petit Le Mans, a 10-hour showcase event held at Road Atlanta. His team scored an overall victory in the 12 Hours of Sebring in 2008.

Penske also ran a Pontiac Riley Daytona Prototype in the 2008 Rolex 24 at Daytona, with Kurt Busch, Ryan Briscoe, and Hélio Castroneves driving. The car was run in conjunction with Wayne Taylor's SunTrust Racing. They finished third overall.

For 2009, Penske has suspended his participation in the ALMS, switching to Grand-Am Rolex Sports Car Series for the full season. They are using a Porsche-powered Riley with Timo Bernhard and Romain Dumas driving.

Penske recently purchased the old Matsushita air conditioning plant in Mooresville, NC and reconditioned it to consolidate his racing empire. Now, all of Penske's racing operations are under one massive roof, with his IndyCar, NASCAR, and American Le Mans Series (through 2009) teams sharing over Template:Convert/sqft of space encompassing Template:Convert/acre. The shop includes all the necessary pieces to compete on the highest level in all of his racing endeavors, including a state-of-the-art, in-house wind tunnel. To complete the facilities, Penske imported over one million tons (250,000 pieces) of Italian marble.

Roger Penske, also an avid car collector, owns many rare American and European automobiles, including a Ferrari FXX, of which only 30 were made.

Penske won his first NASCAR Sprint Cup Championship with driver Brad Keselowski on November 18, 2012.

Complete Formula One World Championship resultsEdit

(key)

Year Entrant Chassis Engine 1 2 3 4 5 6 7 8 9 WDC Points
1961 John M Wyatt III Cooper T53 Climax Straight-4 MON
NED
BEL
FRA
GBR
GER
ITA
USA
8
NC 0
1962 Dupont Team Zerex Lotus 24 Climax V8 NED
MON
BEL
FRA
GBR
GER
ITA
USA
9
RSA
NC 0

Racing awardsEdit

Penske Automotive GroupEdit

While CEO of Penske Automotive Group in 2008, Roger Penske earned a total compensation of $2,706,388, which included a base salary of $1,000,000, no cash bonus, stocks granted of $1,680,005, and no options granted.[6] He was involved in an attempt to purchase the Saturn Corporation, makers of Saturn cars. On September 30, 2009, his Penske Automotive Group announced the deal to purchase Saturn had fallen through.

Personal lifeEdit

Roger Penske has five children, two with first wife Lisa and three with second wife Kathy: Roger, Jr, Gregory, Blair, Mark, and Jay Penske.

Business interestsEdit

  • Penske Racing - Team Penske (IRL), Penske South (NASCAR), Penske Motorsports (ALMS)
  • Penske Automotive Group (PAG:NYSE - a 40+% stake) - With 151 United States car dealerships and 101 international car dealerships, it is the second-largest dealership group in the world.
  • Penske Motor Group - This group owns and operates automobile dealerships in California.
  • Penske Truck Leasing - joint venture with GE Equipment Management
  • Penske Logistics - transportation logistics
  • VM Motori S.p.A. - This group owns a 51% stake and 49% DaimlerChrysler Group, Truck-Lite, and Davco (transportation component manufacturing).
  • Truck-Lite - lighting manufacturer for heavy trucks
  • QEK Global Solutions - a provider of integrated support services to vehicle manufacturers, tier-one suppliers, and other businesses
  • Davco - manufacturer of Class 8 heavy-duty, diesel-powered truck fuel/heater water separators and filter systems
  • Ilmor - engine builder
  • Deer Valley Ski Resort - part owner
  • Internet Brands - An early investor in CarsDirect, he has been a director since May 2000.
  • FER Fahrzeugelektrik - Lighting Manufacturer
  • Tamsen GmbH - Car Dealer for Aston Martin, Bentley, Ferrari, Lamborghini and Maserati

He is also on the board of directors of Universal Technical Institute, a nationwide provider of technical education training for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. NASCAR Technical Institute is located in Mooresville, North Carolina.

See alsoEdit

  • Penske Truck Leasing (Penske Truck Leasing is a joint venture with General Electric, a company on whose board Roger Penske sits).

ReferencesEdit

  1. James, Brant (March 4, 2013). "Long-Range Vision". Autoweek 63 (5): 54-60. 
  2. Roger Penske - Forbes, Forbes.com. Accessed May 16, 2011.
  3. "2009 Kronk Gym Foundation Honorees: Roger Penske". Kronk Gym Foundation. http://kronkgymfoundation.org/2009_honorees/pdfs/RogerPenske.pdf. Retrieved 2011-01-01. 
  4. "Roger Penske Sports Biography, Photos & Rise To Success". Ca.askmen.com. 1937-02-20. http://ca.askmen.com/celebs/men/business_politics_60/71_roger_penske.html. Retrieved 2011-01-01. 
  5. "Gale Encyclopedia of Biography: Roger Penske". Answers.com. http://www.answers.com/topic/roger-penske. Retrieved 2011-01-01. 
  6. 2008 CEO Compensation for Roger S. Penske, Equilar.com

External linksEdit

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