Tony George has returned to the board of directors of Hulman & Company, parent company to the IndyCar Series and Indianapolis Motor Speedway.
George resigned from the board last October after revelations that he was linked to an attempted buyout of the IndyCar Series triggered concerns over a conflict of interest.
However, the company announced late on Friday that George has been reinstated during the Hulmam-George family annual shareholder's meeting.
Additionally, all 10 members who served the most recent terms on the board were re-elected.
Along with George, the board is made up by John Ackerman, Jeff Belskus, Mari Hulman George, Nancy George, Josie George, Katherine George-Conforti, Andre Lacy, Mark Miles, James Morris and Michael Smith.
Of those, Miles currently serves as chairman of Hulman & Co, while Belskus is president and CEO of IMS. The statement said that George will not have any day-to-day involvement with either the series or the speedway.
"Tony George resigned from the Hulman & Company board in October 2012 due to an appearance of a conflict of interest. Now that the appearance of conflict no longer exists, the shareholders have re-elected him to the board," it said.
"With the exception of Hulman & Company chief executive officer Miles and Indianapolis Motor Speedway president and chief executive officer Belskus, the board members have no day-to-day management duties with Hulman & Company."