Indianapolis, IN (My Sportsbook) - Tony George resigned as president and chief executive officer of the famed Indianapolis Motor Speedway.

The Board of Directors of Hulman & Company and IMS announced a new management team on Tuesday. It's comprised of Curtis Brighton and Jeffrey Belskus, as both will be at the helm of the Hulman-George companies effective July 1.

Brighton, currently executive vice president and chief legal counsel, will become president and CEO of Hulman & Company. Belskus, who is executive vice president and chief financial officer, will become president and CEO of the Indianapolis Motor Speedway Corporation.

The 49-year-old George founded the Indy Racing League. He is the grandson of Tony Hulman, who purchased the Indianapolis Motor Speedway. George will remain a board member of the Hulman-George companies.

"Our board had asked Tony to structure our executive staff to create efficiencies in our business structure and to concentrate his leadership efforts in the Indy Racing League," said Mari Hulman George, IMS chairman of the board and Tony George's mother. "He has decided that with the recent unification of open-wheel racing and the experienced management team IMS has cultivated over the years, now would be the time for him to concentrate on his team ownership of Vision Racing with his family and other personal business interests he and his family share."