New Jersey GP chief steps down
Tom Cotter will step down as president of the Grand Prix of America
The president of the Grand Prix of America has resigned from his position.
Tom Cotter was only appointed to the role in January, with the inaugural race around the streets of New Jersey pencilled in for a June slot on the 2013 F1 calendar.
The city agreed a 10-year deal with Bernie Ecclestone towards the end of 2011, but the F1 supremo has voiced his concerns that the venue may not be ready in time.
Cotter's departure is a further blow to the organisation, but in a statement released to the New York Times he insisted he is confident the race will be a success.
He said: "I have full faith in the Grand Prix of America team and look forward to sitting in the grandstands at a world-class race in 2013."
Cotter will leave his position at the end of the month, with chief operations officer Dennis Robinson and Richard Goldschmidt, special assistant to race promoter Leo Hindery Jr, taking over his duties.
Hindery Jr said: "We're all thankful for Tom's leadership in bringing Formula One to Port Imperial.
"During his stewardship we've made great progress and are less than a year away from the sport's top racers speeding around a street course with New York City in the background.
"We wish our friend Tom the best as he returns home to North Carolina."
Cotter is to focus on his motorsport promotions company once he leaves his role.