INTERVIEW WITH TORCO C.F.O. LATRELL PRESTON
Wed, 2008-01-09 13:31
Latrell Preston, Chief Financial Officer for Torco Race Fuels, Inc.,
announced yesterday, January 8, 2008, that the company has suspended
some of its drag racing programs.
Evan Knoll, President and C.E.O. of Torco Race Fuels, was involved in a single-car accident dating back to November 2004 in which the vehicle he was driving went off of the highway and struck a tree. He was later
diagnosed with a severe concussion and later developed multiple brain bleeds. This medical condition worsened to the point that Knoll has opted to take a leave-of-absence from his company to properly heal.
Preston conducted the following question and answer session on Wednesday afternoon. Torco Race Fuels, Inc. Suspends Drag Racing Sponsorship Programs for 2008 – Race and Sanction Agreements to Remain; Health issues of C.E.O. Knoll Cited As Reason
Latrell Preston, Chief Financial Officer for Torco Race Fuels, Inc., announced yesterday, January 8, 2008, that the company has suspended some of its drag racing programs.
Evan Knoll, President and C.E.O. of Torco Race Fuels, was involved in a single-car accident dating back to November 2004 in which the vehicle he was driving went off of the highway and struck a tree. He was later
diagnosed with a severe concussion and later developed multiple brain bleeds. This medical condition worsened to the point that Knoll has opted to take a leave-of-absence from his company to properly heal.
Preston conducted the following question and answer session on Wednesday afternoon.
Q – What happened?
LP – “Evan’s health has been an ongoing issue since November of 2004 and it has not improved, in fact, it has gotten worse as time has passed. Since his accident, he has not been the same person. He hasn’t taken the
time to heal properly with the demands of his regular business in addition to the racing business. It’s no secret that all of the deals we had in place, makes the racing part a full-time job. Evan just couldn’t function in the way he needed to stay on top of the business because of his health. He finally came to the realization that he needed to take a medical leave for at least a year if he had a chance of returning to a life of being normal, never-mind work and the racing. We will return in 2009 with business continuing in 2008.”
Q – Does this affect the employees of Torco Race Fuels?
LP – “Absolutely not and I can’t emphasize that enough. Every employee will still have their job, insurance and benefits. Every one is retained.”
Q – Does this affect all of Torco’s sponsorships?
LP – “This only affects the large number of race teams we support. We will continue to support the races and the sanctioning bodies that we are involved in. Our IHRA and NHRA relationships will continue. We are a
race fuel company and we cannot get out of the sport completely. We sell race fuel, that’s what we do. We’re just taking a step back on the race teams we support.”
Q – Rumors suggest this is part of a boycott to transition over to NASCAR. Is that true?
LP – “Absolutely not. We wouldn’t play those kinds of games. That’s playing a game. We are a race fuel company and therefore we can’t boycott any sanctioning body or we’d be shooting ourselves. We are a
race fuel company, why would we want to boycott the very ones who help us stay in business?”
Q – How serious is Evan’s condition?
LP – “He had a closed head injury and any time you have one of those it is considered serious because you are fine today and the next could be another story. We’ve already found out how serious head injuries can be in other situations. We are doing everything we can to ensure that Evan heals properly. This is serious and it’s not good. Sometimes he has good days and then there are others that he’s not the Evan Knoll we all have come to know and love. Sometimes, I don’t even know that it’s Evan Knoll talking. He doesn’t look the same at times. He’s not the same. Anyone who knows him prior to the accident can tell that he’s a different man.”
Q – What medical procedures are being undertaken at this time?
LP – “Currently Evan is away from the day-to-day demands of the business and under the car of multiple neurologists. They are monitoring his condition and administering treatment. He has been to the Mayo Clinic, a leading neurological facility, at least eight to ten times since the accident. In addition, he’s brought in doctors to assist. The doctors have told us time and time again that Evan has to take time off to heal or he won’t be with us. Evan just ignored that advice because he loves the sport so much that he had to have his hand on the pulse of everything. The doctors made it perfectly clear that he had to slow down because his life and his quality of life were in jeopardy. Myself and the doctors finally convinced Evan that if he took a year off to heal, he can return in 2009 at a level he’s wanted to run at since the accident.”
Q – Will Torco be back?
LP – “Absolutely. We’re not selling our race team assets and we are keeping our leases intact. We will be back in 2009 running for championships.
"I want to urge everyone to keep Evan's recovery in their prayers and to please remember the good he has done for this sport. He loves this sport and taking a break is something he has to do for his long-term health."
Evan Knoll, President and C.E.O. of Torco Race Fuels, was involved in a single-car accident dating back to November 2004 in which the vehicle he was driving went off of the highway and struck a tree. He was later
diagnosed with a severe concussion and later developed multiple brain bleeds. This medical condition worsened to the point that Knoll has opted to take a leave-of-absence from his company to properly heal.
Preston conducted the following question and answer session on Wednesday afternoon. Torco Race Fuels, Inc. Suspends Drag Racing Sponsorship Programs for 2008 – Race and Sanction Agreements to Remain; Health issues of C.E.O. Knoll Cited As Reason
Latrell Preston, Chief Financial Officer for Torco Race Fuels, Inc., announced yesterday, January 8, 2008, that the company has suspended some of its drag racing programs.
Evan Knoll, President and C.E.O. of Torco Race Fuels, was involved in a single-car accident dating back to November 2004 in which the vehicle he was driving went off of the highway and struck a tree. He was later
diagnosed with a severe concussion and later developed multiple brain bleeds. This medical condition worsened to the point that Knoll has opted to take a leave-of-absence from his company to properly heal.
Preston conducted the following question and answer session on Wednesday afternoon.
Q – What happened?
LP – “Evan’s health has been an ongoing issue since November of 2004 and it has not improved, in fact, it has gotten worse as time has passed. Since his accident, he has not been the same person. He hasn’t taken the time to heal properly with the demands of his regular business in addition to the racing business. It’s no secret that all of the deals we had in place, makes the racing part a full-time job. Evan just couldn’t function in the way he needed to stay on top of the business because of his health. He finally came to the realization that he needed to take a medical leave for at least a year if he had a chance of returning to a life of being normal, never-mind work and the racing. We will return in 2009 with business continuing in 2008.”
Q – Does this affect the employees of Torco Race Fuels?
LP – “Absolutely not and I can’t emphasize that enough. Every employee will still have their job, insurance and benefits. Every one is retained.”
Q – Does this affect all of Torco’s sponsorships?
LP – “This only affects the large number of race teams we support. We will continue to support the races and the sanctioning bodies that we are involved in. Our IHRA and NHRA relationships will continue. We are a
race fuel company and we cannot get out of the sport completely. We sell race fuel, that’s what we do. We’re just taking a step back on the race teams we support.”
Q – Rumors suggest this is part of a boycott to transition over to NASCAR. Is that true?
LP – “Absolutely not. We wouldn’t play those kinds of games. That’s playing a game. We are a race fuel company and therefore we can’t boycott any sanctioning body or we’d be shooting ourselves. We are a
race fuel company, why would we want to boycott the very ones who help us stay in business?”
Q – How serious is Evan’s condition?
LP – “He had a closed head injury and any time you have one of those it is considered serious because you are fine today and the next could be another story. We’ve already found out how serious head injuries can be in other situations. We are doing everything we can to ensure that Evan heals properly. This is serious and it’s not good. Sometimes he has good days and then there are others that he’s not the Evan Knoll we all have come to know and love. Sometimes, I don’t even know that it’s Evan Knoll talking. He doesn’t look the same at times. He’s not the same. Anyone who knows him prior to the accident can tell that he’s a different man.”
Q – What medical procedures are being undertaken at this time?
LP – “Currently Evan is away from the day-to-day demands of the business and under the car of multiple neurologists. They are monitoring his condition and administering treatment. He has been to the Mayo Clinic, a leading neurological facility, at least eight to ten times since the accident. In addition, he’s brought in doctors to assist. The doctors have told us time and time again that Evan has to take time off to heal or he won’t be with us. Evan just ignored that advice because he loves the sport so much that he had to have his hand on the pulse of everything. The doctors made it perfectly clear that he had to slow down because his life and his quality of life were in jeopardy. Myself and the doctors finally convinced Evan that if he took a year off to heal, he can return in 2009 at a level he’s wanted to run at since the accident.”
Q – Will Torco be back?
LP – “Absolutely. We’re not selling our race team assets and we are keeping our leases intact. We will be back in 2009 running for championships.
"I want to urge everyone to keep Evan's recovery in their prayers and to please remember the good he has done for this sport. He loves this sport and taking a break is something he has to do for his long-term health."
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