"We have mutually decided to end our marriage. We'll always be family and continue to cherish our relationship based on the special love, integrity, and respect we have always enjoyed," a rep for the couple tells Us.
The Missing actress, who was nominated for an Emmy for her part as a mom with a vengeance at last year's Emmy Awards, wed the three-time Indy 500 champion in an intimate ceremony in Scottland on Dec. 12, 2001.
Judd, 44, and Franchitti, 39, do not have any children together.
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