Courtesy of the Grand Prix of America

Tom Cotter, a high-profile appointment in the effort to bring Formula One racing to the banks of the Hudson River, will leave his position as president of the Formula One Grand Prix of America at the end of the month. His departure was announced in a statement issued by the organization on Monday.

Mr. Cotter, a motorsports marketing executive who was appointed president of the initiative in January, said he planned to attend to his motorsports promotion company, based in North Carolina, and other endeavors.

“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,” he said in the statement.

The grand prix, formally announced in October 2011, is expected to be held in June 2013 on a 3.2-mile street course between Port Imperial, in Weehawken, and West New York, N.J.

“We’re all thankful for Tom’s leadership in bringing Formula One to Port Imperial,” Leo Hindery Jr., the New York sports media and investing magnate who unveiled the race plan with Governor Chris Christie last October, said in the statement.

“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,” Mr. Hindery said. “We wish our friend Tom the best as he returns home to North Carolina.”

Mr. Cotter’s duties will be absorbed by two executives: Dennis Robinson, the former president of the New Jersey Sports and Exposition Authority who was named chief operations officer of the grand prix in December 2011, and Richard Goldschmidt, the special assistant to Mr. Hindery.

The grand prix has generated a significant amount of advance publicity. Sebastian Vettel, the 2010 and 2011 Formula One champion, drove the course in June for a promotional event before appearing on “The Late Show With David Letterman,” during which he discussed the race.

Though the inaugural running of the grand prix was treated as a foregone conclusion in those instances, the 2013 Formula One calendar has not been released. The race’s promoters, however, insist that sanctioning and licensing payments to Bernie Ecclestone, the president of the series, are current, and that the race would follow the Montreal Grand Prix on the 2013 calendar, as intended.

Mr. Cotter has also written several books about collector cars, co-chaired the Amelia Island Concours d’Élégance in Florida and founded the Cotter Group, a motorsports marketing firm primarily associated with Nascar. He previously served as public relations director for the Charlotte Motor Speedway.