International Speedway Corporation Announces Executive Changes
15 4월 2009 - 3:21AM
PR Newswire (US)
Increase in Annual Dividend DAYTONA BEACH, Fla., April 14
/PRNewswire-FirstCall/ -- International Speedway Corporation
(NASDAQ:ISCANASDAQ:OTCNASDAQ:BulletinNASDAQ:Board:NASDAQ:ISCB)
("ISC") announced today that James C. France, 64, is stepping down
from the role of Chief Executive Officer effective June 1, 2009.
Mr. France will remain Chairman of the Board of Directors in a
non-executive capacity. In addition, the Company's Board of
Directors (the "Board") announced the promotions, also effective
June 1, 2009, of several executives to positions of new
responsibility. -- Lesa France Kennedy, 47, currently President,
will become Chief Executive Officer and retain the title of Vice
Chair. -- John R. Saunders, 52, currently Executive Vice President
and Chief Operating Officer, will become President; -- Roger R.
VanDerSnick, 45, currently Senior Vice President - Marketing &
Business Operations, will become Executive Vice President and Chief
Operating Officer; and, -- Daniel W. Houser, 57, will move from
Vice President to Senior Vice President, and remain Chief Financial
Officer and Treasurer. Commenting on the executive transitions, Mr.
France stated, "These changes follow the Company's plan of
succession that has been in place for quite some time. 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." Mr. France continued, "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." Ms. France Kennedy commented, "I join ISC's Board,
management and team of employees in recognizing and expressing
appreciation for Jim's contributions over his 50-year career with
the Company, especially the last six years as Chief Executive
Officer. His vision and energies have been vital to our ability to
prosper, and we will continue to benefit from his extensive
experience and knowledge of the motorsports industry." Separately,
ISC declared an annual dividend of $0.14 per share, payable on June
30, 2009, to common stockholders of record on May 29, 2009, marking
the 36th consecutive year that the Company has paid a dividend to
its shareholders. ISC paid an annual dividend of $0.12 per share in
2008. Also, the following members of ISC's Board of Directors were
re-elected to a three-year term: Lesa France Kennedy; Larry Aiello,
Jr., 59; J. Hyatt Brown, 71; Edward H. Rensi, 64; and, Thomas W.
Staed, 77. International Speedway Corporation is a leading promoter
of motorsports activities, currently promoting more than 100 racing
events annually as well as numerous other motorsports-related
activities. The Company owns and/or operates 13 of the nation's
major motorsports entertainment facilities, including Daytona
International Speedway(R) in Florida (home of the Daytona 500(R));
Talladega Superspeedway(R) in Alabama; Michigan International
Speedway(R) located outside Detroit; Richmond International
Raceway(R) in Virginia; Auto Club Speedway of Southern
California(SM) near Los Angeles; Kansas Speedway(R) in Kansas City,
Kansas; Phoenix International Raceway(R) in Arizona; Chicagoland
Speedway(R) and Route 66 Raceway(SM) near Chicago, Illinois;
Homestead-Miami Speedway(SM) in Florida; Martinsville Speedway(R)
in Virginia; Darlington Raceway(R) in South Carolina; and Watkins
Glen International(R) in New York. In addition, ISC promotes major
motorsports activities in Montreal, Quebec, through its wholly
owned subsidiary, Stock-Car Montreal. The Company also owns and
operates MRN(R) Radio, the nation's largest independent sports
radio network; the Daytona 500 Experience(SM), the "Ultimate
Motorsports Attraction" in Daytona Beach, Florida, and official
attraction of NASCAR(R); and Americrown Service Corporation(SM), a
subsidiary that provides catering services, food and beverage
concessions, and produces and markets motorsports-related
merchandise. In addition, ISC has an indirect 50 percent interest
in Motorsports Authentics(R), which markets and distributes
motorsports-related merchandise licensed by certain competitors in
NASCAR racing. For more information, visit the Company's Web site
at http://www.iscmotorsports.com/. Statements made in this release
that express the Company's or management's beliefs or expectations
and which are not historical facts or which are applied
prospectively are forward-looking statements. It is important to
note that the Company's actual results could differ materially from
those contained in or implied by such forward-looking statements.
The Company's results could be impacted by risk factors, including,
but not limited to, weather surrounding racing events, government
regulations, economic conditions, consumer and corporate spending,
military actions, air travel and national or local catastrophic
events. Additional information concerning factors that could cause
actual results to differ materially from those in the
forward-looking statements is contained from time to time in the
Company's SEC filings including, but not limited to, the 10-K and
subsequent 10-Qs. Copies of those filings are available from the
Company and the SEC. The Company undertakes no obligation to
release publicly any revisions to these forward-looking statements
that may be needed to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events.
The inclusion of any statement in this release does not constitute
an admission by International Speedway or any other person that the
events or circumstances described in such statement are material.
DATASOURCE: International Speedway Corporation CONTACT: Wes Harris,
Senior Director, Corporate and Investor Communications,
International Speedway Corporation, +1-386-947-6465 Web Site:
http://www.iscmotorsports.com/
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