NASCAR Prez Steps Down

Bill France Jr. stepped down Tuesday as president of NASCAR, the racing circuit his father founded in the 1940s that has grown into a multibillion-dollar industry.

France was replaced by Mike Helton, who has been overseeing day-to-day operations for nearly two years.

The 67-year-old France disclosed in 1999 that he has cancer and has missed many races this season. Earlier this month, however, he appeared at the Pennzoil 400 at Homestead-Miami Raceway and said he was feeling much better and spending more time at the office.

France, who succeeded his father, Bill Sr., as president of the sanctioning board for stock car racing in 1972, will serve as chairman of a new five-member board of directors.

Under France, NASCAR grew from the tiny dirt tracks of the backwoods South to a sport that 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," France said. "Mike is well-suited to carry on the tradition of strong leadership at NASCAR, not only within our offices, but for the entire industry."

The France family will retain a strong hand in NASCAR. Also serving on the board of directors will be Jim France, Bill's brother; Brian France, Bill's son; and Lesa Kennedy, Bill's daughter.

George Pyne was promoted to senior vice president and will take over 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."

Jim France will continue as executive vice president and secretary. Brian France, who was a senior vice president, was promoted to executive vice president.