Jim O'Toole has been appointed Managing Director of Powerboat P1 Management Ltd, promoters of the Powerboat P1 World Championship, the racing series which has become the test ground and global marketing platform for the marine industry.

Jim joined P1 from Ogilvy's 141 Worldwide Sports and Entertainment unit in mid-August as Commercial Director. His brief was to guide the business through the next challenging phase in its commercial development. With his strong leadership skills and experience in sports marketing and business development, the impact was immediate. He now takes operational control as Powerboat P1 looks to strengthen its sporting and business models and expand its manufacturer base on both sides of the Atlantic.

"In no time at all, Jim was able to identify the strengths and weaknesses of our business," explained Asif Rangoonwala, the controlling investor of the Powerboat P1 World Championship. "He knows exactly what is needed to move P1 forward. He will bring day-to-day management, direction and leadership to the business and I had no hesitation in offering him the role of Managing Director. He is an action man, has the fire in his belly and the business acumen to take Powerboat P1 to the next level. His no-nonsense approach and clear vision will be welcomed by teams, manufacturers and our commercial partners."

Commenting on the appointment, Jim O'Toole said, "When I joined P1 the brief was to develop the commercial strength of the business. P1's offering to its stakeholders at all levels will determine its future commercial success and as Managing Director I am in a much stronger position to deliver results. P1 is a fantastic motorsport/marine success story, where a relatively unknown powerboating championship has now become an established international Motorsport and test-bed for the European Marine industry. With P1's increasing global media exposure we are attracting interest from manufacturers and potential resort destinations well beyond Europe."

"In the coming weeks we expect to announce at least one new host venue, take an even stronger business case to the European and American markets and introduce a clear and uncomplicated rules framework that encourages participation now and in the future."