Friday, October 19, 2012

Tony George Resigns From Hulman Board

Tony George has resigned his position on the Hulman and Company board, effective immediately.

"Tony George has made the difficult decision to resign from the board because of his involvement with a group that has recently expressed an interest in purchasing the Hulman & Company-owned INDYCAR organization," said Jeff Belskus, Hulman & Company president and CEO. "While the business is not for sale and no offers to sell it have been considered or are being considered, we applaud Tony's efforts to resolve the appearance of a conflict and appreciate the gravity of this decision."

The announcement is the first confirmation from either party on the rumored interest in an INDYCAR buyout.

"I realize that my recent efforts to explore the possibility of acquiring INDYCAR represent the appearance of a conflict, and it is in everyone's best interest that I resign from the Hulman & Company board," Tony George said. "It goes without saying that I want to do what is best for this organization."

The current 10-member Hulman & Company board includes: Mari Hulman George, Nancy L. George, M. Josephine George, Katherine M. George-Conforti, Andre B. Lacy, Michael L. Smith, John F. Ackerman, Jeffrey G. Belskus, Mark D. Miles and James T. Morris.


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