Michael Andretti Speaks Out After Shock Andretti Global Move

Michael Andretti is stepping back from daily operations at Andretti Global, entrusting business partner Dan Towriss with managing the team while focusing more on his family.

Michael Andretti looks out from his pit box Monday, May 20, 2024, during practice for the 108th running of the Indianapolis 500 at Indianapolis Motor Speedway. / Kristin Enzor/For IndyStar / USA TODAY NETWORK

Andretti Global recently announced that Michael Andretti would step down as CEO, entrusting the reins to his business partner, Dan Towriss. Following the announcement, Andretti has explained the decision during an interview with the Associated Press.

Andretti explained:

“We’ve been working on this for a few months now. For me where I am in my life and what I want to do, the timing was right for me to take a little different role with the team.

“A role where I don’t have to be on it every day and I can still stay involved because I’ll be involved as an advisor as well as an ambassador. We were able to come to a deal between myself and Dan and I think we are both happy with what we came up with.”

He added, hinting at his recent personal news of becoming a grandfather after his son Marco welcomed his baby girl Miura:

“I’m 62 years old and you know, you only have so many years left to do things. I’ve got a lot of great things happen for me in my life, and now is the time to enjoy some of them.”

Dan Towriss, affiliated with Andretti Global through his ventures with Gainbridge and Group 1001, will now manage the team's operations. Towriss, who has been a significant financial backer and stakeholder in the team for the past few years, revealed his optimism regarding the transition and the team's future. He addressed the restructuring news, clarifying that while ownership structures are evolving, Andretti still retains financial ties to the team.

“We didn’t say that he doesn’t own our team. There’s all kinds of speculation. We certainly have restructured the ownership. Michael still has a financial interest. This got leaked in a way that put us on our back foot in terms of responding to things.

"People are going to always look to try to fill a vacuum with stories that sound great and are super interesting. This one is not super interesting. Michael said this was a time to take on a different role from the daily grind.”

Andretti Global currently fields IndyCar teams featuring drivers Colton Herta, Marcus Ericsson, and Kyle Kirkwood, among others. The organization also maintains a diverse presence in seven different racing series and continues with its hopes of joining the F1 grid in the years to come. Notably, plans are underway to test promising female driver Jamie Chadwick in an IndyCar.