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Closing Bell

Brian France Takes Leave Of Absence; Jim France Is Interim CEO

NASCAR this afternoon announced that Chair & CEO Brian France has taken an indefinite leave of absence, with his uncle, Vice Chair Jim France, now assuming the role of interim Chair & CEO. The news comes after Brian France was arrested last night for alleged DUI, as first reported by TMZ. Brian France in a statement said, "I apologize to our fans, our industry and my family for the impact of my actions last night. Effective immediately, I will be taking an indefinite leave of absence from my position to focus on my personal affairs."

Jim France had already become more involved again in the family’s businesses in recent months, negotiating the purchase of ARCA and going to Le Mans, France, to work on a project for IMSA. The brother of Bill France Jr., Jim brings years of knowledge and a traditional approach to the business (Adam Stern, Staff Writer).

NASCAR Chair & CO Brian France was arrested in the Hamptons last night for "aggravated driving while intoxicated and criminal possession of a controlled substance in the 7th degree," France, who had oxycodone pills on him, was "arrested and held overnight for arraignment" this morning. He was arraigned in Sag Harbor Village and "released on his own recognizance" (NBCSPORTS.com, 8/6). Under NASCAR's substance abuse policy, France could be "required to go through a recovery program, or he could be subjected to drug testing" (ESPN.com, 8/6). Jeff Gluck writes, "This is a major black eye for the sport." Instead of a "feel-good, racing-related storyline that seemed to give NASCAR momentum on Sunday, all the talk nationally will be about France's arrest" (JEFFGLUCK.com, 8/6).

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