George out as CEO of IMS/Hulman Co.

INDIANAPOLIS - (WISH) - After a 20 year reign Tony George is out as President and CEO of the Hulman-George Companies.

 

The board of directors announced Tuesday that veteran executives Curtis Brighton will become president and CEO of Hulman & Company and Jeffrey Belskus will become president and CEO of the Indianapolis Motor Speedway corporation. The changes take place Wednesday.

“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,” said Mari Hulman George, IMS chairman of the board. “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.”

24-Hour News 8 Racing Analyst Derek Daly said the move does not surprise him, "I think it was damage control when this story broke at the end of May and he denied it to us on WISH-TV, denied it to a lot of people. But as my old Irish grandmother always said, there's never any smoke if there's not fire, and I think it was only a matter of time that this came out. And the fact that it has come out proves there has been desention in the ranks for quite a while."

It was only about a month ago that George shot down a report that he was being replaced as CEO of the Speedway.

People on Monument Circle Tuesday evening were surprised by the announcement.

"That's really surprising news to hear that he was voted out. He's kind of an icon of Indy 500 and famous races around here. That's shocking news," Jason Heman said.,

"As long as I've been here, in Indianapolis and Fishers, he's always been the one, the owner. So I really don't understand why they voted him out," said Wilma Pitts.

Tony George accomplished a lot as head of the Indianapolis Motor Speedway but he also created a lot of controversy.

Tuesday's announcement is just the latest in turbulent era for the Speedway.

For years, Tony George was best known for presiding over the split in open wheel racing.

"I'm very angry at Tony mainly because I think he's trying to mess around with something that's bigger than him," Mario Andretti said.

He said he wanted a less expensive sport that attracted more American drivers. Instead, it divided the sport and its stars.

"We're not exactly on the same page by any means," George said after the split.

George became a team owner of Vision Racing in addition to being the leader of the track.

The other series, CART which became Champ Car, went bankrupt and, last year, two series became one.

"It's a chance for maybe those who've become disenchanted as fans to perhaps come back," George explained.

The arrival of NASCAR kept fans coming back but cheering for stock car heroes.

Formula One came and went. George called the departure "a business decision" and said the door was open for the possibility that the series, so popular overseas, would come back, someday.

The Speedway even has motorcycles racing again, under George's guidance, recalling the early days of the track.

Last month.. there were reports George had been ousted.

But George himself came forward to deny the claims, "No one's asked me to leave."

George said no one is happy with the current economic conditions and he said his decisions haven't always had the support of his family, "I do what I always do and that's to try and run the company and the business as we need to and see fit."

Although George is no longer head of the Speedway, he's still on the board and will still have a say in decisions that are made.