IBJNews

Speedway, IndyCar owner names Miles as new CEO

Back to TopCommentsE-mailPrintBookmark and Share

Hulman & Co., which owns Indianapolis Motor Speedway and the IndyCar series, has chosen board member and local economic development leader Mark Miles as its new CEO, the firm announced Tuesday morning.

Miles, CEO of the Central Indiana Corporate Partnership, will replace Jeff Belskus, who is serving as interim CEO of the IndyCar Series. Belskus assumed that role late last month after Randy Bernard was removed as CEO of IndyCar. Belskus is now expected to focus primarily on the Speedway and IndyCar, according to Hulman & Co. Miles will take the CEO post on Dec. 17.

In March, Miles was appointed as a director of Hulman & Co. He served as chairman of the 2012 Super Bowl Host Committee and is a former CEO of the ATP Tour, which helps oversee men’s professional tennis.

Miles will lead the overall business direction and management of Hulman & Co., including a key role in the refinement and implementation of the company's long-term strategic plan. Hulman & Co. is comprised of Clabber Girl Corp., Georgetown Realty, Indianapolis Motor Speedway, IndyCar, IMS Productions and various other business entities.

"The combination of his international sports experience and leadership of large-scale events like the 2012 Super Bowl, along with his diverse experience with public and private corporations, makes him an exceptionally positive match for our business," said Mari Hulman George, IMS chairman of the board, in a prepared release.

"His business acumen, his ability to cultivate and develop partnerships and the extensive network in sports and business he will provide will strengthen all of our business units. His service as a member of the Hulman & Co. board of directors has prepared him to contribute to the organization from day one," George said.

"I'm excited about joining the team and contributing my lifetime learning from international professional sports, large-scale major sports events and business environments," Miles said in a prepared statement. "I have worked for companies with global profiles and brands, and I'm happy to continue that on behalf of the Hulman-George family and its significant business interests."

Miles is widely recognized as one of the top “power brokers” in the city, with connections that reach deep into the political and business communities. Beginning in 1974 as a campaign aide to Richard Lugar in his unsuccessful bid for the U.S. Senate, Miles caught the attention of political heavyweights like Bill Hudnut and Dan Quayle and soon was running their election campaigns.

Through the 1980s, he was a go-to guy for handling complex projects on a civic level, taking over and revitalizing the city’s men’s pro tennis event (then the GTE Championships), and heading the organizing committee for the Pan American Games in 1987.

He then became executive director of public affairs for Eli Lilly and Co., and hand-picked his replacement—longtime friend Mitch Daniels—when he left in 1990 to become CEO of the Association of Tennis Professionals, the governing body for men’s pro tennis.

Hulman & Co. officials noted Miles' transformative influence on the ATP in their announcement Tuesday. During his 15-year tenure, the ATP posted revenue gains, launched innovative marketing initiatives and expanded its global presence through successful events in Asia, the Middle East and Latin America.

In 2006, Miles took over the Central Indiana Corporate Partnership, which he remodeled as an economic development powerhouse for the life sciences, information technology and advanced manufacturing.

CICP officials did not immediately return calls Tuesday morning about Miles' new position and the future of the organization.

Early in Miles' tenure with CICP, Clarian Health Partners CEO Dan Evans (now CEO of the IU Health hospital system) described Miles as "one of the best complex-problem solvers I know.

"This is someone who can deal with big issues, but skinny it down to, 'What do I have to do? What's the goal? And how will I know when I get there?'"

Miles headed up Indianapolis' successful bid for Super Bowl XLVI, and served as chairman of the 2012 Super Bowl Host Committee.

“I’m thrilled for Mark," said Allison Melangton, president of Indiana Sports Corp. and formerly the president and CEO of the 2012 Super Bowl Host Committee. "Mark is a great choice [for Hulman & Co.]. He is a truly innovative leader whose vision has impacted Super Bowl XLVI, the ATP Tour and countless other initiatives in remarkable ways."

In the video below from IBJ's "Leading Questions" series, Miles reflects on his history in Indianapolis and the many projects that he has championed.



Belskus will continue as president of Hulman & Co., president and CEO of the Indianapolis Motor Speedway Corp. and interim CEO of IndyCar. He has served as president and CEO of Hulman & Co. since October 2011, one of his many senior management roles in Hulman & Co. operations over the last 25 years.

"By allowing Jeff to focus on the racing businesses and significantly less on the other business units, we are clearly aligning our executive management team to move the company forward," George said.

"We see opportunities to continue the growth of IndyCar, which I view as an exciting challenge," Belskus said. "My passion is rooted in the Indianapolis Motor Speedway and IndyCar, and I have been energized by the opportunity we have in the short and long term for both organizations."


 

ADVERTISEMENT

  • Exceptional Choice!
    This is a huge win for Indycar and the Speedway! Great choice guys!
  • Horrible Choice for Taxpayers
    Miles is one of the biggest pigs at the public trough in Indianapolis. You can bet he is going to try to get public dollars diverted to the Speedway. Under Miles the Speedway will end up being no better than the Pacers or Colts when it comes to public subsidies. Horrible choice if you are against public subsidies for professional sports.
  • SWEET!
    Super excited by this choice and very optimistic about the future of one of Indy's greatest assets!
    • CEO of the IndyCar
      Not so well done at the Interim CEO of IndyCar level
    • Excellent choice
      Well done, Hulman & Company.

      Post a comment to this story

      COMMENTS POLICY
      We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
       
      You are legally responsible for what you post and your anonymity is not guaranteed.
       
      Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
       
      No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
       
      We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
       

      Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

      Sponsored by
      ADVERTISEMENT

      facebook - twitter on Facebook & Twitter

      Follow on TwitterFollow IBJ on Facebook:
      Follow on TwitterFollow IBJ's Tweets on these topics:
       
      thisissue1-092914.jpg 092914

      Subscribe to IBJ
      1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

      2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

      3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

      4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

      5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

      ADVERTISEMENT