Executive realignment announced by board of directors
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Speedway Motorsports Inc. board of directors named O. Bruton Smith to the post of executive chairman and Marcus Smith as chief executive officer on Wednesday.
Bruton Smith, SMI's chairman and CEO since the company went public in 1995, will report to the board of directors and work closely with the board and new CEO on strategic direction, coordinate activities of the board and communicate with key stakeholders.
Marcus Smith, the company's president and COO since 2008, will work closely with the executive chairman on day-to-day operations and provide leadership and strategic direction while also communicating with key stakeholders. He will continue to sever as SMI president and president and general manager of Charlotte Motor Speedway.
The realignment, approved by the board of directors on Wednesday, is effective immediately.