Randy Bernard has officially been removed as the CEO of the IndyCar Series. The Indianapolis Motor Speedway board of directors voted to remove him during a special meeting this evening.

Randy will remain with IndyCar in a smaller advisory role. He recently completed his third year of a five year contract he signed in February of 2010. Indianapolis Motor Speedway CEO Jeff Belskus will serve as the interim CEO of IndyCar.

Belskus said both sides were in agreement, and that the decision is effective immediately. “It’s an amicable parting. Randy believes it’s in his best interest, and we agree with him.”

Bernard thanked the Hulman-George family for his opportunity. “I have enjoyed the opportunity to work with the entire IndyCar community, its teams, drivers, loyal partners and fans. The last three years have produced some exciting, and some difficult, times. But we have created a foundation for IndyCar that positions it to grow over the next several years, and I am proud of what everyone at IndyCar has been able to accomplish since I came on board.”

There was a great deal of change when Bernard came onto the scene, replacing Tony George. During his three years, there were many ups and downs, and still some things (Firestone situation, aero kits) that are left unresolved. Bernard’s position in IndyCar has been the subject of endless rumors and speculation over the majority of the last year.

As of now, it appears this situation is not directly related with the Tony George situation. Belskus reiterated that the IndyCar Series is not for sale:  “Once again, IndyCar is not for sale, and the organization remains completely committed to owning and operating IndyCar.”

The last few weeks have left all of us wondering, what now?