Tony George (on 6/30) resigns CEO post of Indianapolis Motor Speedway, IRL

Re: Report: Tony George out as CEO of Indianapolis Motor Speedway

True, but Danica's lack of consistent success would make a move to NASCAR a gimmick that would not work in anyone's favor. At least the other racers had proven themselves in other series. Plus, this isn't a NASCAR on the upswing -- she would be joining only because NASCAR needs a gimmick to get mainstream attention again. And if you thought the Indy-car boys were harsh, that's nothing compared to the backlash she's going to get in NASCAR. Five years ago, I could have seen this move as an obvious one for everyone. Not, I'm not so sure it's even the best move for Danica Patrick.

 

Re: Report: Tony George out as CEO of Indianapolis Motor Speedway

Reading all of the reports (and between the lines), my guess is:
*-TG was asked to spend more of his energy running the IRL so it would quick sucking money away from the track.
*-The sisters have kids who would like to be more involved with the Speedway and they're trying to pave the path for one of them (Kyle Krisloff is probably the best-known of the bunch).
*-So therefore TG was encouraged to spend more time with the IRL, but as of now, not necessarily removed as CEO, although he'll probably step down at some point to allow one of the sister's kids to take the position.
*-TG has very little to do with the track's day-to-day operations as it is -- he stepped away from that role after starting Vision Racing. Joie Chitwood runs the track on a day-to-day basis.

 

Re: Tony George says he's still CEO of Indianapolis Motor Speedway

George is still in, but has been told by the family, which comprises the board (along with one non-family member) to focus on the IRL, i.e., get it profitable. Here's the release from IMS:

INDIANAPOLIS MOTOR SPEEDWAY STATEMENT
Wednesday, May 27, 2009

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.”

…IMS2009…

I can't figure out how to link to the specific page, but WISH-TV's website has a tape of George's short news conference outside the track's HQ building.

 

Re: Report: Tony George says he's still CEO of Indianapolis Motor Speedway

FYI, the board is Mari Hulman George (Tony's mom), her four children (Tony & 3 daughters) and the family lawyer who happens to be a longtime Hulman family friend.

 

Re: Report: Tony George says he's still CEO of Indianapolis Motor Speedway

And three sisters are the ones who fired George's wife last month.

Tony reportedly has burned through $600 million in the last 15 years and the sisters have decided enough is enough.

This is just the tip of the iceberg.

 

Re: Report: Tony George says he's still CEO of Indianapolis Motor Speedway

Robin Miller getting facts wrong = sun coming up in the East. Not exactly a surprise. Ask any of the 6 media companies that have canned him.

 

Re: Report: Tony George says he's still CEO of Indianapolis Motor Speedway

I'm still wondering why he went with only one source on something this big. And will he use that source again?

 

Re: Report: Tony George says he's still CEO of Indianapolis Motor Speedway

Miller's notorious for going with 1 source, no source or his imagination. Guy throws stuff against the wall to see what sticks. Later, when something happens in 6 months or a year, he'll say he was right. Guy is a major tool.