George replaced as IMS President and CEO

Alluded to weeks ago and summarily denied, Hulman & Company confirmed today that Tony George will in fact no longer be acting as President and CEO of Indianapolis Motor Speedway or the Hulman-George companies. George, who has been in the position of leadership since 1990, will step down, effective July 1st.

“Our board had asked Tony to structure our executive staff to create efficiencies in our business structure and to concentrate his leadership efforts in the Indy Racing League,” said Mari Hulman George, IMS chairman of the board. “He has decided that with the recent unification of open-wheel racing and the experienced management team IMS has cultivated over the years, now would be the time for him to concentrate on his team ownership of Vision Racing with his family and other personal business interests he and his family share.

Though no longer in a position of leadership, George will remain on the board of directors of the Hulman-George companies while focusing the bulk of his attention towards the day to day running of Vision Racing, of which he is co-owner.

“These changes underscore our family’s commitment going forward to all of our companies, especially our commitment to the growth of the Indy Racing League and the sport of open-wheel racing,” Mrs. George said. “We believe the Hulman-George family’s long stewardship of the Indianapolis Motor Speedway, beginning in 1945, and our significant investment in the Speedway and in the IRL demonstrates that we have full confidence in all of our companies and that we intend to grow them in the future.”

Taking over the positions vacated by George will be veteran IMS executives W. Curtis Brighton and Jeffrey G. Belskus. Brighton, who is currently executive vice president and chief legal counsel, will become president and CEO of Hulman & Company, while Belskus, currently executive vice president and chief financial officer for the companies, will become president and CEO of the Indianapolis Motor Speedway Corporation.

“Jeff and Curt have both been with the company for many years in positions of top leadership,” Mrs. George said. “Tony, as well as the entire Board of Directors, has the utmost confidence in their capabilities. Both of these men have years of experience and leadership within our companies. In addition, each of our companies has effective presidential leadership, and that will remain in place.”

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