Tony George Gone From IMS

Tony George has completely severed his ties with all Hulman-George businesses, completing his exit from IMS.

Team owner Tony George watches Vision Racing driver Ed Carpenter compete in the IRL Meijer Indy 300 at the Kentucky Speedway on August 1, 2009. Darrell Ingham/Getty Images

After stepping down as president and CEO of Indianapolis Motor Speedway and the Indy Racing League on June 30, Tony George has completely severed his ties with all Hulman-George businesses by resigning his Board of Director seats at Indianapolis Motor Speedway and parent company Hulman & Co. on January 20.

“As members of his family, we are sorry to see Tony leave,” said Mrs. Mari Hulman George, Board Chair at Hulman-George and IMS, in a statement on the Indy Racing League’s official website.

“We are grateful for his service to our company as a board member and of course for formerly serving as CEO and president of our companies. I speak for our whole family in wishing him well.

“All of us had hoped that Tony would continue to serve on the board, and we made that clear to him. We are disappointed with his decision to step down despite our wishes.”

George stepped down—many say was forced to step down—as CEO and president of Hulman-George & Co., reportedly because he spent too much of the firms’ funds supporting the Indy Racing League. He quit as the head of the IRL at that time. Reports at that time said that George was upset by his ouster, prompting him to seek to sever all ties to the family business.

“There are a lot of hurt feelings on both sides,” said current IMS President and CEO Jeff Belskus, on SPEED-TV.com. Belskus assumed Tony George’s duties after George left in June.