CONCORD, N.C. -  The board of directors for Speedway Motorsports, Inc. (NYSE:TRK) has named O. Bruton Smith as executive chairman and Marcus G. Smith as chief executive officer in a realignment of executive officials, the board announced Wednesday.

O. Bruton Smith, who has served as chairman and chief executive officer since Speedway Motorsports, Inc.'s initial public offering in 1995, will report directly to the board of directors, working closely with the board and the chief executive officer to engage in the overall leadership and strategic direction of the company, guide senior management, coordinate activities of the board and communicate with the company's key stakeholders.

In an expanded role, Marcus G. Smith, who has served as Speedway Motorsports, Inc.'s president and chief operating officer since 2008, will work closely with the executive chairman to manage day-to-day operations of the company, provide overall leadership and strategic direction and communicate with key stakeholders. Smith will maintain his roles and titles of president of Speedway Motorsports, Inc. and president and general manager ofCharlotte Motor Speedway, positions he has held since 2008.

The realignment, approved Wednesday by the Speedway Motorsports, Inc. board of directors, is effective immediately.