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Indy Speedway Board Says Tony George Still In Charge

Info Manager | , RacinToday.com Wednesday, May 27 2009
Tony George

Tony George

RacinToday.com

Several media outlets reported today that Tony George had been ousted as head of Indinapolis Motor Speedway. The reports stated that the IMS board had made the move at a meeting on Tuesday night.

However, Mari Hulman George, chairman of that board, denied the reports today and said Tony George remains CEO of IMS.

A statement released to the media this afternoon read: 

At a regular meeting of the board of directors of the Indianapolis Motor Speedway on Tuesday, May 26, board members asked Tony George, chief executive officer of the IMS companies, to devise a plan for management of Hulman & Company, the Indy Racing League, Clabber Girl and the Indianapolis Motor Speedway that would allow him to focus on the business which requires the greatest attention. This plan is to be presented to the board at a meeting later this year.

IMS Chairman of the Board Mari Hulman George said: “There was a general discussion about the challenges and opportunities facing all of our companies and where most of our energies need to be spent. All of our properties are doing well, given the challenges of the current economy. The Indy Racing League represents our greatest growth opportunity and therefore deserves the most attention at this point.”

Tony George said: “Contrary to published reports, I continue to serve as CEO of IMS. Our board of directors met yesterday, and we did discuss how to best confront challenges and exploit opportunities facing our businesses. This is nothing new and is something that we continually do as a board. But no changes in leadership or responsibility have been made. We don’t normally comment on board deliberations concerning our family business. However, the widespread, inaccurate reports and rumors caused my mother and me to conclude that it was necessary to set the record straight. If changes are made in the management of the company that are newsworthy, we will announce them when they are made.”

Info Manager | , RacinToday.com Wednesday, May 27 2009
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