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updated: 10/28/2012 5:18 PM

Randy Bernard steps down as IndyCar CEO

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Associated Press

Randy Bernard has stepped down as CEO of IndyCar.

Jeff Belskus, President and CEO of series owner Hulman & Co., will step in as interim CEO.

Bernard will stay on in an advisory position.

The decision was reached following an executive session Sunday of the 11-member Indianapolis Motor Speedway board of directors.

It ends a month of speculation about Bernard's future that reached a fevered pitch last week, when Bernard and an IMS spokesman denied a report that Bernard had been fired.

But a mutual decision was reached Sunday for Bernard to step down as CEO to end the suffocating speculation that has overshadowed one of the best seasons in series history.

It comes nine days after series founder Tony George resigned from the Hulman & Co. board of directors.

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