8/16/2023 0 Comments Roger penske daughterSupport from rival team owners was immediate. Ultimately, it was decided to focus on the possible sale of the company and finding a buyer that would be the best steward of the company and its iconic assets.’’ For a number of years, the Hulman & Company management and board have engaged outside advisers and experts to consider the full range of strategic options available. ‘‘Penske Corporation - with its 64,000-plus employees and more than $32 billion in consolidated revenue - will bring tremendous energy, leadership and resources to IMS, Ind圜ar and IMSP. ‘‘We have found the ideal steward of the company and its iconic assets,’’ the document said. IMS earlier Monday sent a document to Ind圜ar teams, a copy of which was obtained by AP, outlining the basics of the deal. and Hulman & Company are private companies they are not legally required to disclose the transaction price. He is the winningest car owner in Indy 500 history with 18 victories, including Simon Pagenaud’s win in May, as well as 15 Ind圜ar championships following Josef Newgarden’s title in September. Penske, who turned 82 in February, received the Presidential Medal of Freedom from President Trump last month. ‘‘Hopefully I have enough credibility to ensure that there is not a lot of conflict. To me, I know what my job is,’’ Penske said. He was eager to address any potential conflict of interest that could arise from the most powerful man in motorsports owning a three-car race team, the series, and one of the most important races in the world. Penske, who is also a giant in the NASCAR stock car series, said he plans no management changes at this time. Penske said he will step down as race strategist for his Ind圜ar team - he most recently called races for veteran driver Will Power - and focus on turning IMS into ‘‘the entertainment capital of Indiana.’’ He said the heavy lifting begins Tuesday when Penske plans to walk the IMS property - it includes the track, a golf course, a museum and in 1987 was designated a National Historic Landmark - then meet with the existing executive team. sold its other primary business, the baking company Clabber Girl, to B&G Foods for $80 million in May. Matriarch Mari Hulman George, Hulman’s daughter, died last November and the family businesses have slowly been divested. board of directors, have most recently been in charge of Hulman properties. Tony George, along with his sisters and the Hulman & Co. Roger Penske’s resources will only take this to another level.’’ We all realize that as a family and organization we had probably taken it as far as we can. ‘‘I simply said I’d like to meet with him and talk about stewardship and he got a very serious look on his face,’’ said George, who several times choked back tears discussing his family’s legacy. ‘‘We as a family agreed we all needed to have a conversation with Roger Penske,’’ George said.
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