News From Terre Haute, Indiana

Business

October 19, 2012

Tony George resigns from Hulman & Co. board of directors

TERRE HAUTE — The board of directors of Hulman & Co. announced Friday evening that it has accepted the resignation of Anton H. “Tony” George from the board. The board stated through a news release the resignation is 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 & Co. 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.”

George has played an instrumental role in Hulman & Co. over the last two decades, serving as president of the Indianapolis Motor Speedway from 1990-2004 and serving as IMS chief executive officer from 1990-2009. He also served as CEO of IndyCar from 1994-2009 and previously served as president of Hulman & Co.

“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,” George said in the  release. “It goes without saying that I want to do what is best for this organization.”

Belskus indicated there is no immediate plan to fill the vacancy left by George’s resignation and thanked George on behalf of the entire Hulman & Co. board.

“Tony has been involved with our businesses for many years and has contributed significantly through his leadership role with IMS and IndyCar and as a member of this board,” Belskus said. “We wish Tony much success in the future.”

The current composition of the Hulman & Co. board is 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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