Jul. 21, 2009 (United Press International) -- Joie Chitwood has resigned as the president of the Indianapolis Motor Speedway to join International Speedway Corp. (NASDAQ:ISCA) (OTCBB:ISCB) , racetrack officials say.

Chitwood, 40, indicated he is leaving Indianapolis to become vice president of business operations for ISC, the sister company of NASCAR, based in Daytona Beach, Fla., The Indianapolis Star reported Tuesday.

Coupled with the forced departure last month of Tony George as Indy's chief executive officer, Chitwood's departure has further shaken the legendary speedway's management structure, the newspaper said.

Jeff Belskus, who replaced George, told the Star he has also taken over Chitwood's duties, hinting that the presidents' position might go unfilled.

"We have a good leadership team in place," he said. "In this world we're in (economically) in terms of downsizing with head count such an important thing, we're going to continue to analyze that and staff ourselves appropriately."