DAYTONA BEACH, Fla. -- International Speedway Corp. has announced that James France, 64, is stepping down from the role of chief executive officer effective June 1. France will remain chairman of the board of directors in a non-executive capacity.

In addition, the company's board of directors has announced the promotions of several executives to positions of new responsibility, also effective June 1.

• Lesa France Kennedy, 47, currently president, will become chief executive officer and retain the title of vice chair.

• John Saunders, 52, currently executive vice president and chief operating officer, will become president;

• Roger VanDerSnick, 45, currently senior vice president - marketing & business operations, will become executive vice president and chief operating officer; and,

• Daniel Houser, 57, will move from vice president to senior vice president, and will remain chief financial officer and treasurer.

Commenting on the executive transitions, France stated, "These changes follow the company's plan of succession that has been in place for quite some time. Working closely with the board, I look forward to continuing to provide key oversight and support to a strong management team that has shown careful and sound judgment on both strategic and operational matters. Under Lesa's continued outstanding leadership, I have every confidence they will drive future success for ISC's shareholders for many years to come."

France continued, "I think it is important in light of the current economic environment to note that these collective executive changes will not result in any increase in ISC's total annualized executive compensation expenses."

France Kennedy commented, "I join ISC's Board, management and team of employees in recognizing and expressing appreciation for Jim's contributions over his 50-year career with the company, especially the last six years as chief executive officer. His vision and energies have been vital to our ability to prosper, and we will continue to benefit from his extensive experience and knowledge of the motorsports industry."

Also, the following members of ISC's Board of Directors were re-elected to three-year terms: Lesa France Kennedy; Larry Aiello, Jr., 59; J. Hyatt Brown, 71; Edward Rensi, 64; and, Thomas Staed, 77.

Separately, ISC declared an annual dividend of 14 cents per share, payable on June 30 to common stockholders of record on May 29, marking the 36th consecutive year that the company has paid a dividend to its shareholders. ISC paid an annual dividend of 12 cents per share in 2008.