International Speedway Corporation (Nasdaq: ISCA; OTC Bulletin Board: ISCB) (“ISC”) today announced changes to its Board of Directors (the “Board”).
ISC Chief Executive Officer James C. France was elected to Chairman and President Lesa France Kennedy was elected to Vice Chair of the Company. In addition, Edsel B. Ford II, a long-time executive at Ford Motor Company and great-grandson of founder Henry Ford, has been nominated to fill a vacant directorship. William C. France, who passed away in June 2007, had been elected to a three-year term at the Company’s April 2007 annual shareholders’ meeting. Ford’s formal election by the current directors to fill the remainder of the unexpired term is expected to take place in November.
James France said, “Edsel Ford is a top leader from the business community, with an extensive background in the automotive and motorsports industries. He will certainly become a highly valued board member and we look forward to his future contributions to ISC. “
“ISC is a strong company with a long track record of success and I look forward to helping them continue on that path, ” said Ford. “I welcome the opportunity to join such a distinguished Board, and to work closely with Jim, Lesa and the other talented executives at the Company. “
“We are thrilled at the possibility of having an executive of Mr. Ford’s caliber join our Board, ” said Ms. France Kennedy. “He will bring a wealth of experience and talent to our organization. “
Ford, 58, has been a member of the Board of Directors of Ford Motor Company since 1988. He began his career at Ford Motor Company in January 1974, was named president and chief operating officer of Ford Motor Credit Company in May 1991, and elected a company vice president in 1993. Ford is also the sole owner of Pentastar Aviation, formerly DaimlerChrysler Aviation, and the majority owner of Marketing Associates, a Detroit based marketing services organization. Lastly, Ford is the majority owner of The Ryder Group, a golf tournament services company based in Farmington, Michigan, and is the former Chairman of the Detroit Branch of the Chicago Federal Reserve Bank.
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