Jim France will quit his role as chief executive officer of International Speedway Corp. on June 1, he told ISC employees Tuesday.
France, the son of NASCAR founder Bill France , will stay on as the chairman of the board of directors for the racetrack company that promotes 19 of the 36 races on the Sprint Cup Series schedule.
Lesa France , the daughter of former NASCAR chairman Bill France Jr., will take over her uncle’s role with ISC. She currently is the president of the family-operated company.
In stepping down, Jim France won’t be involved in the day-to-day decisions affecting the company’s racetrack, but he will remain involved in ISC’s long-range plans. The Augusta Chronicle
ISC also announced these promotions, effective June 1:
• John R. Saunders, currently executive vice president and chief operating officer, will become president;
• Roger R. VanDerSnick, currently senior vice president—marketing and business operations, will become executive vice president and chief operating officer; and,
• Daniel W. Houser, will move from vice president to senior vice president, and remain chief financial officer and treasurer.
“These changes follow the Company’s plan of succession that has been in place for quite some time,” Jim France said. “Working closely with the Board, I look forward to continuing to provide key oversight and support to a strong management team that has shown careful and sound judgment on both strategic and operational matters. Under Lesa’s continued outstanding leadership, I have every confidence they will drive future success for ISC’s shareholders for many years to come.”
“I think it is important in light of the current economic environment to note that these collective executive changes will not result in any increase in ISC’s total annualized executive compensation expenses.” NASCAR
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