Angstadt will be replaced by INDYCAR's Director of Corporate Business Development, Marc Koretzky, who will oversee sales, business planning and development, marketing, public relations and organizational operation.
"INDYCAR has made tremendous strides under Terry's leadership and its future is indeed bright," Koretzky said. "I look forward to working with INDYCAR's current commercial partners and helping to develop additional strategic relationships.
Citing 'increasing demands on the Competition and Operation division', Barnhart will retain his role as President of Operations.
"I'm confident that Brian and Marc will lead our company into a bigger and brighter future in these new roles," INDYCAR CEO, Randy Bernard said.
Koretzky, 35, has utilized his MBA in Executive Strategic Management most recently in management of all non-racing events surrounding the IZOD INDYCAR World Championships presented by Honda in Las Vegas in October. Tapping into his experience with the NFL, NCAA and other sports properties, he produced and coordinated the weeklong activities that created global awareness, including an unprecedented night closing of Las Vegas Boulevard for a 34-car parade.
Previously, the New Orleans native worked in conjunction with the NFL as Director of Operations for multiple Super Bowl Committees and was an independent lead consultant to the Atlanta Local Organizing Committee for the NCAA Men & Women's Final Four Basketball Championships.
"Terry has been an integral member of the INDYCAR executive team since 2007, and has been instrumental in orchestrating successful inaugural events Baltimore and Brazil, managing the demands of promoter relations and serving as a key liaison between our teams, venues and partners while overseeing the business development of our company," Bernard said. "We wish Terry the best of luck as he moves on to the next chapter in his career. He will be missed by the entire INDYCAR team."
Barnhart's replacement as Race Director is unclear.
"As our sport continues to grow and we prepare for our first new car in almost a decade, we feel that splitting these roles will help fully service our teams and venues as we prepare for the demands of 2012 season," Barnhart said.