This just in...

[rabbit]

INDIANAPOLIS (AP) — Pat Patrick, a co-founder of Championship Auto Racing Teams, and Mario Andretti will not seek re-election to the CART board of directors.
Shareholders will vote for eight board members during the annual CART meeting on July 17.
In a proxy statement sent to stockholders on Tuesday, the company nominated Robert Biggs, former managing partner of the Indianapolis office of PriceWaterhouseCoopers.
``Neither move was unexpected,'' CART spokesman Adam Saal said of the decision by Patrick and Andretti to step down from the board. ``Mario is a very busy man. We had determined a while ago he was considering not renewing. Mr. Patrick also maintains a busy schedule.''
Patrick, president of Patrick Racing, was a founding member and the first president of CART in 1978. He has been a director since 1997.
Andretti, who won 52 Indy-car races with CART and USAC, retired as a driver in 1994 and has been on the CART board since last August.
The other directors seeking re-election are Chris Pook, the CART president; car owners Carl Haas and Derrick Walker; James Hardymon, James Henderson, Rafael Sanchez and Frederick Tucker.

[Napoleon]

This maybe a bit of a non story. I seemed to recall when Mario signed on it was explicitly for a one year term only. IMO, it was as much a PR thing as anything else. As to Patrick, there has been a move, backed up with SEC and NYSE rules to limit the number of insiders who sit on public company boards. Perhaps Patrick is viewed that way (although he does not fit the classic definition of insider since he is not employed by, or an officer of, CART).

[JoeBob]

I also wonder if Patrick is getting ready to retire. He's not exactly a spring chicken anymore. :D

It is interesting that Carl Haas is remaining on the board. A telltale sign that Green and Ganassi were planning on leaving CART was their departure from the board. There's a bunch of people that would love to beleive that Haas is the next to leave CART for greener pastures elsewhere.

With Haas remaining on the BOD, you can chalk him up for another year of CART.

[RTKar]

Rumors had it, that Pat had to be talked into fielding a team this year, so the announcement comes as no suprise. Same goes for Mario.

[Jag_Warrior]

Sorry about that, Rabbit. I didn't see this thread when I posted mine.