Jimmy Haslam has stepped down as CEO of his family-owned Pilot Flying J, Cleveland.com reported.
Haslam, the presumptive Browns majority owner who plans to purchase the team for a reported $1 billion, will act as the chairman of Pilot Flying J going forward. He is expected to be approved by the NFL as the Browns new majority owner on Oct. 16.
PepsiCo president John Compton is set to succeed him as CEO of Pilot Flying J.
Haslam had served as Pilot CEO since 1994, after taking over the business founded by his father and into one of the nation’s largest privately held companies.