In the official statement confirming his exit, Bernard is quoted as saying he is confident he leaves IndyCar in a better condition than he found it when he took on the role three years ago.
"I have enjoyed the opportunity to work with the entire IndyCar community, its teams, drivers, loyal partners and fans," said Bernard said. "The last three years have produced some exciting, and some difficult, times.
"I am proud of what everyone at IndyCar has been able to accomplish since I came on board," he added. "We have created a foundation for IndyCar that positions it to grow over the next several years."
Bernard also thanked the Hulman-George family that owns and runs the Indianapolis Motor Speedway for "giving me the opportunity and privilege to work with the organization and to help set a course and direction for IndyCar."
Bernard indicated that he would maintain an advisory capacity with the series that would allow him to continue to provide input to IndyCar in the future. "I have developed a passion for the sport of IndyCar, and I look forward to being involved at a strategic level as an advisor to the IndyCar leadership.
"As IndyCar fans, we need to unify behind the sport in order to move it to the next level, and I look forward to providing input and being part of that unified voice along the way," he added.
Interim CEO Jeff Belskus thanked Bernard for piloting the series through some difficult time, which included the introduction of a brand new chassis and engine technical specification for the first time in nine years.
Belskus has previously served as interim CEO of IndyCar from July 2009 until Bernard's appointment in March 2010. He will continue to serve in his present roles as CEO and president of the International Motor Speedway.
Belskus said that no specific timeline for finding a permanent replacement had yet been agreed, and would likely be tied into an overall review of the leadership of the series. That review would be supported by global business management firm The Boston Consulting Group and would include consultation with existing IndyCar stakeholders.
He reiterated that Bernard's departure and the management review did not mean that the series was about to be sold to an investment group led by former IMS and IndyCar president Tony George, who is leading a takeover bid that involves a number of current team owners.