Tony George Out As Indy President/CEO

The Board of Directors of Hulman & Company and the Indianapolis Motor Speedway announced Tuesday that a new management team comprised of veteran IMS executives W. Curtis Brighton and Jeffrey G. Belskus will head the Hulman-George companies
effective July 1. They will replace Tony George, who will no longer serve as President and Chief Executive Officer of the Hulman-George companies but will remain a board member of the Hulman-George companies.

"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 IMS Chairman of the Board Mari Hulman George. "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.

"Tony will remain on the Board of Directors of all of our companies, and he will continue to work with the entire board to advance the interests of all of companies. Our family and the entire racing community are grateful to Tony for the leadership and direction he has provided since 1990. We are pleased that he will continue to be an important part of the Indy Racing League as a team owner and as a member of our Board of Directors, and we wish him every success."

Today’s announcement mirrored a report filed by SPEED TV’s Robin Miller two weeks ago; a report that was strongly denied by all parties.