Tony George resigns from Hulman & Co.

INDIANAPOLIS (WISH) - Tony George has resigned from Hulman & Co. and all affiliated groups including IMS, Indy Racing League and IMS Productions, according to a press release issued from IMS Tuesday.

The release quote's George's mother, Mari Hulman George, as saying, "As members of his family, we are sorry to see Tony leave...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."

Mari Hulman George is the chairman of Hulman & Co.

The release goes on to say that George is removed from any role in Hulman & Company, Indianapolis Motor Speedway, Indy Racing League, IMS Productions and other affiliated companies.

George still owns Vision Racing, a competitor in the IZOD IndyCar Series of the Indy Racing League.

After a 20 year reign, George was out as president and CEO of the Hulman-George Companies in June of 2009.

The change meant veteran executives Curtis Brighton would become president and CEO of Hulman & Company and Jeffrey Belskus would become president and CEO of the Indianapolis Motor Speedway Corporation.

Tony George accomplished a lot as head of the Indianapolis Motor Speedway but he also created a lot of controversy.

For years, Tony George was best known for presiding over the split in open wheel racing. He said he wanted a less expensive sport that attracted more American drivers. Instead, it divided the sport and its stars.

"We're not exactly on the same page by any means," George said after the split.

George became a team owner of Vision Racing in addition to being the leader of the track.

The other series, CART which became Champ Car, went bankrupt and, last year, two series became one.

"It's a chance for maybe those who've become disenchanted as fans to perhaps come back," George explained.

The arrival of NASCAR kept fans coming back but cheering for stock car heroes.

Formula One came and went. George called the departure "a business decision" and said the door was open for the possibility that the series, so popular overseas, would come back, someday.