Haslam in 2013
James Arthur Haslam III|
March 9, 1954
|Alma mater||University of Tennessee|
|Occupation||Businessman, NFL team owner, philanthropist|
|Net worth||US$3 billion (November 2015)|
|Spouse(s)||Dee Bagwell (1976–present)|
|Children||Jim, Whitney, and Cynthia|
Cynthia Haslam (deceased)
James Arthur "Jimmy" Haslam III (born March 9, 1954) is the CEO of the Pilot Flying J truck stop chain and the current majority owner of the Cleveland Browns of the National Football League. His father, fellow businessman Jim Haslam, founded the Pilot Corporation in 1958 as the Pilot Oil Corporation.
Haslam bought a minority interest in the Pittsburgh Steelers in 2008. In 2012, he reached an agreement with Browns owner Randy Lerner to purchase the franchise for $1 billion (USD). The Browns were valued at $977 million in 2011 by Forbes magazine, 20th in the NFL. NFL rules prohibit ownership in multiple teams and so Haslam sold his interest in the Steelers. Haslam's purchase of the Browns was unanimously approved by the 32 teams in the NFL on October 12; the sale itself closed thirteen days later.
Pilot Flying J
Haslam began his career at Pilot Corporation in 1976. In 1980, Haslam was named vice president of sales, development and operations. At that time, Pilot operated 100 convenience stores with annual fuel sales of about 125 million gallons. Pilot opened its first travel center in 1981, and by 1996 – the same year Haslam was named president and chief executive officer – the company operated 96 travel centers and 50 convenience stores and its total gallon sales had reached 1.2 billion. Pilot Corporation attained yet another milestone in 2001 when it joined with Marathon Ashland Petroleum LLC to form Pilot Travel Centers LLC.
In 2008, Pilot Corporation announced that CVC Capital Partners had acquired 49.8% interest in Pilot Travel Centers LLC, facilitating the sale by Marathon Petroleum Company (formerly Marathon Ashland Petroleum) of its interest in Pilot Travel Centers. Pilot Corporation retained 50% ownership of Pilot Travel Centers LLC. In 2015, the Haslam family acquired all of CVC Capital Partners’ shares in the company. Pilot’s convenience store operations continue to be fully owned by Pilot Corporation. In 2010, Pilot Travel Centers LLC joined with Flying J Inc. In 2012, Pilot Flying J acquired Western Petroleum and the majority ownership of Maxum Petroleum and in 2012 formed Maxum Enterprises LLC, d/b/a Pilot Logistics Services. In 2014, Pilot Logistics Services merged with Thomas Petroleum to form Pilot Thomas Logistics. Pilot Flying J subsidiary Pilot Thomas Logistics is one of the fastest growing energy logistics companies in North America.
Pilot Flying J is one of the top 10 privately held companies in the United States and employs more than 24,000 employees. The Pilot Flying J network provides customers with access to more than 70,000 parking spaces for trucks, 4,800 showers and 4,300 diesel lanes featuring DEF at the pump.
Jimmy Haslam's civic involvement includes service on the board of directors of Anderson Media Corporation. He also has served on the boards of the United Way of Greater Knoxville, Lakeshore Park in Knoxville and the National Association of Truck Stop Operators (NATSO). In addition, Haslam served as honorary chair of the Boys & Girls Clubs of Cleveland campaign committee and as campaign chair for Knox Area Rescue Ministries and United Way of Greater Knoxville.
Haslam was inducted into the Junior Achievement of East Tennessee Business Hall of Fame in 2007, and in 2010, he was named a recipient of the Ernst & Young Entrepreneur Of The Year award for the Southeast region. In 2013, the University of Tennessee recognized Haslam with the Distinguished Alumnus Award. He is the co-founder of the Haslam Scholars Program for premier honor students at the University of Tennessee.
Previous director for:
- University of Tennessee Athletics
- Innovation Valley, Inc.
- First Horizon Corporation
- Clayton Family Foundation
- Federal Reserve Board Energy Advisory Council
- National Association of Convenience Stores Leadership Council
- Cleveland Clinic
Pilot Flying J fraud
In April 2013, the FBI executed a search warrant and affidavit detailing a five-year fraud scheme by the Pilot Flying J chain. The company paid restitution to customers and agreed to pay a $92 million penalty pursuant to a Criminal Enforcement Agreement.
Awards and honors
- Jr. Achievement of East Tennessee Business Hall of Fame (class of 2007)
- Significant Sig Award from the Sigma Chi Foundation
- 2010 Ernst & Young Entrepreneur of the Year Award
- 2011 University of Tennessee College of Business Administration's Distinguished Alumni Award
- Flory, Josh (January 20, 2011). "Big deals, big wheels: Family, political fortunes reach new heights for Haslams". KnoxNews.com. Retrieved August 25, 2011.
- Josh Flory, "Jimmy Haslam Reassumes Role as CEO of Pilot Flying J," Knoxville News Sentinel, 11 February 2013. Retrieved: 11 February 2013.
- Bill Lubinger, The Plain Dealer. "Potential Cleveland Browns owner Jimmy Haslam uses hands-on business approach". cleveland.com. Retrieved 2012-08-02.
- "Jimmy Haslam (III) agrees to $1 billion price tag for Browns". Mansfield News-Journal. August 3, 2012. Retrieved August 24, 2012.
- Cabot, Mary Kay (October 16, 2012). "Jimmy Haslam is new Cleveland Browns owner after unanimous approval by NFL". Cleveland.com. Cleveland Live LLC. Retrieved October 17, 2012.
The sale will close Oct. 25, and Lerner will retain a 30 percent stake for four years.
- Anne Lezotte, "Jimmy Haslam Biography," Pilot Flying J, 11 September 2014. Retrieved: 12 September 2014.
- Ellen Myers, "Browns owner Jimmy Haslam's truck stop chain will pay $92 million fraud fine", The Christian Science Monitor, July 15, 2014.