Penske not returning to ISC board of directors

Greg Penske, son of team owner and former track operator Roger Penske, will not seek re-election to the International Speedway Corp. board of directors when his term ends in April, according to the company's statement to shareholders.

Greg Penske is the last holdover from the merger between Penske Motorsports and ISC, which occurred in 1999 and brought California Speedway, North Carolina Speedway (Rockingham), Michigan and Nazareth (Pa.) into the ISC portfolio.

A former president of California Speedway, Greg Penske remained as a member of the board beyond the time specified by the merger agreement, said Wes Harris, ISC senior director of investor relations. Greg Penske is president of the Penske Automotive Group in California and also in the last year resigned from the board of directors of Alltel, one of Penske Racing's NASCAR Nextel Cup sponsors.

"He was definitely a valued board member that we're sorry to see go," Harris said. "I think it was more of a time constraint thing than anything else." More at SceneDaily.com