The president of the Indianapolis Motor Speedway says he'll resign after this weekend's Allstate 400 at the Brickyard.

Joie Chitwood's last day will be Aug. 6. Chitwood, who became the Speedway's president and president and chief operating officer in December 2004, says he's resigning to take on "new challenges" and return to his home state of Florida.

He will become vice president of business operations for the International Speedway Corporation, with headquarters in Daytona Beach, Fla.

Chitwood's departure comes about a month after Tony George was ousted as president and chief executive officer of the IndyCar Series.