Speedway Motorsports is a marketer, promoter and sponsor of motorsports entertainment in the U.S.
The board of directors of Speedway Motorsports (NYSE:TRK) today named O. Bruton Smith as its executive chairman and Marcus G. Smith as its chief executive officer. The realignment of the senior executives is effective immediately.
A 15-cent quarterly dividend was also declared by the Board of Directors, with the common stock trading in the +$23 range.
O. Bruton Smith, who served as chairman and chief executive officer since Speedway Motorsports, initial public offering in 1995, will report directly to the board of directors in a strategy role. In an expanded role, Marcus G. Smith, who served as Speedway Motorsports, president and chief operating officer since 2008, will manage day-to-day operations of the company. Smith will maintain his roles and titles of president of Speedway Motorsports and president and general manager of Charlotte Motor Speedway, positions he has held since 2008.
Speedway Motorsports is a marketer, promoter and sponsor of motorsports in the United States. The Company, through its subsidiaries, owns and operates the following tracks: Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway and Texas Motor Speedway.
The Company also provides souvenir merchandising through its SMI Properties subsidiaries; manufactures and distributes smaller-scale, modified racing cars and parts through its U.S. Legend Cars International subsidiary; and produces and broadcasts syndicated motorsports programming to radio stations nationwide through its Performance Racing Network subsidiary.
