Bruton Smith and son lead Speedway Motorsports executive realignment

The board of directors for Speedway Motorsports, Inc. (NYSE:TRK) has named Bruton Smith (pictured) as executive chairman and his son Marcus G. Smith as chief executive officer in a realignment of executive officers, the board announced Wednesday.

Bruton Smith has served as chairman and chief executive officer since Speedway Motorsports, Inc.'s initial public offering in 1995, will report directly to the board of directors, working closely with the board and the chief executive officer to engage in the overall leadership and strategic direction of the company, guide senior management, coordinate activities of the board and communicate with the company's key stakeholders, according to the announcement.

In an expanded role, the younger Smith – who has served as SMI's president and chief operating officer since 2008 – will work closely with the executive chairman to manage day-to-day operations of the company, provide overall leadership and strategic direction and communicate with key stakeholders. Smith will maintain his roles and titles of president of Speedway Motorsports, Inc. and president and general manager of Charlotte Motor Speedway, positions he has held since 2008.

The realignment, approved Wednesday by the board of directors, is effective immediately.

Speedway Motorsports, Inc., through its subsidiaries, owns and operates the following motorsports facilities: 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 provides souvenir merchandising services 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. For more information, about the company, please visit the Speedway Motorsports website.