He will report to Ted Forstmann, chairman and CEO, effective February 20, 2006. He will also join the company’s board of directors.
Pyne, who has been widely credited with transforming NASCAR into a globally recognised brand and one of the most popular sports in America, brings vast experience in rights negotiations, licensing, brand expansion, successful development and management of marketing partnerships and sports-related businesses.
Forstmann welcomed Pyne to the executive team, adding: "Over the past year that Forstmann Little has owned IMG, we have realigned the organisation and cost structure and today, IMG is extremely sound financially.
"We see tremendous growth potential for this company through expansion of our current businesses, entree into related businesses and potential acquisitions.”
Forstmann is founding partner of Forstmann Little, the private equity group specialising in leveraged buyouts. The most notable acquisitions include Gulfstream Aerospace, Dr Pepper and General Instruments.
Prior to taking up this role at IMG, Pyne worked with NASCAR for 11 years rising to chief operating office.
