By Andrew Cutler
July 1 2009

About one month ago, the rumor started circulating that Tony George had been forced out of his post as president of the Indianapolis Motor Speedway. George and the rest of the board of directors of Hulman and Co. (which is mainly comprised of his family) denied this, saying that he had simply been asked to develop a plan for growing the Indy Racing League.

Now it has come to pass that George has indeed stepped aside from the management of IMS, putting long-time associate Jeffery Belskus, until now the track's Chief Financial Officer, in his place as Chief Executive Officer: Joie Chittwood will remain in his post as the Chief Operations Officer.

In what is certainly a more stunning move, Tony has also stepped down from his role as head of the board of directors of Hulman and Co., the organization which oversees all of the Hulman-George family's business interests (IMS, the IRL & Clabber Girl Baking Soda, the original source of the family's wealth). Another long-time associate, W. Curtis Brighton, currently the board's chief legal council, will take over that post. Tony will remain on the board as a regular member.

This move effectively means that George is no longer in ultimate control over the Indy Racing League, the organization which he started back in 1995. Even so, Hulman and Co. board chairman Mari Hulman George (Tony's mother) said; “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.”

“Jeff and Curt have both been with the company for many years in positions of top leadership,” she added. “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.”  

Tony still retains his ownership of the Vision Racing team.