France Steps Down as NASCAR President
Nov. 28 -- Bill France Jr. stepped down today as president of NASCAR, the racing circuit his father founded in the 1940s that has grown intoa multibillion-dollar industry.
France was replaced by Mike Helton, who has been overseeingNASCAR’s day-to-day operations for nearly two years.
France will serve as chairman of a new five-member board ofdirectors. France succeeded his father, Bill Sr., as president ofthe sanctioning board for stock car racing in 1972.
Dirt Tracks to Major Road
The 67-year-old France disclosed in 1999 that he has cancer andhe has missed many races this season. Earlier this month, however, heappeared at the Pennzoil 400 at Homestead-Miami Raceway and said hewas feeling much better and spending more time at the office.
Under France, NASCAR has had remarkable growth. The sport thatbegan on the tiny dirt tracks of the backwoods South is now worth$2.4 billion in TV rights.
“Mike Helton is a well-respected member of the NASCAR community who has a great understanding of the sport and its values,” Francesaid. “Mike is well-suited to carry on the tradition of strongleadership at NASCAR, not only within our offices, but for theentire industry.”
Also serving on the board of directors will be three othermembers of the France family: Jim France, Bill’s brother; BrianFrance, Bill’s son; and Lesa Kennedy, Bill’s daughter.
Pyne Promoted
George Pyne was promoted to senior vice president and will takeover operational responsibilities for each of NASCAR’s departments, reporting directly to Helton. Pyne previously worked in Charlotte as NASCAR’s marketing and licensing director, but will move to the main offices in Daytona Beach.
“He’s going to take some of the load off me,” Helton said. “George will step into Daytona and run the day-to-day business of NASCAR. He has shown the ability to manage employees and organize the business side of just about everything in NASCAR.”
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