Mike and Marian Ilitch Share Future Ownership and Leadership Succession Plans
All Ilitch companies to remain 100 percent Ilitch-family owned
Christopher Ilitch to continue providing leadership over all businesses
May 05, 2016, 04:00 ET
DETROIT, May 5, 2016 /PRNewswire/ -- Ilitch Holdings, Inc., which represents leading brands in the food, sports and entertainment industries, today shared plans that will ensure long-term ownership and leadership stability at the Ilitch companies.
"Given the public nature of our companies, the wide range of interested stakeholders, the large-scale projects we are working on, and the thousands of hard-working employees we rely on every day, we thought it was important to publicly disclose our plans," said Mike Ilitch, Chairman of Ilitch Holdings, Inc. "Early on, Marian and I decided that we wanted every one of our businesses to remain family owned. Through careful long-term planning, which continues, I'm pleased to say that all of our businesses, including the sports teams, will remain 100% Ilitch-family owned."
"We've worked a lifetime to build these businesses, and we're pleased that they will all remain in our family," said Marian Ilitch, Vice Chairwoman of Ilitch Holdings. "As our health is relatively good, we thought that disclosing our plans now would help provide continued stability."
Mike and Marian Ilitch remain on the Boards of Directors of their various companies, providing overall leadership and strategic guidance. Mike Ilitch will continue to run the Detroit Tigers and the Detroit Red Wings, and Marian Ilitch will continue to run MotorCity Casino Hotel.
Mike and Marian Ilitch will ensure that their respective future ownership and leadership succession plans comply with the rules and regulations of, and are approved by, Major League Baseball, the National Hockey League and the Michigan Gaming Control Board.
The organization also announced that Christopher Ilitch, president and CEO of Ilitch Holdings, will continue providing leadership over all of the Ilitch companies, now and into the future, succeeding his parents in their current roles over time. "Chris has done an outstanding job, and under his leadership, we have seen sustained growth and success. Both Marian and I are very confident in his ability to continue leading our companies," said Mike Ilitch.
Christopher Ilitch was appointed president and CEO of Ilitch Holdings, Inc. in 2004. For the past 29 years, he has spent his career in a variety of roles throughout the Ilitch companies, including as president of the Little Caesars Pizza Kit Fundraising Program. Christopher also serves as chairman of Ilitch Charities, a nonprofit organization that focuses on human services, community development, education and recreation. In addition, he is involved in a number of business and civic groups that help improve and promote Detroit and the region.
"I am fortunate and privileged to work with my mother and father, two hard working, committed and passionate people who have done so much for our companies, our employees and our community," said Christopher Ilitch. "I look forward to continuing my role at Ilitch Holdings and building on their tremendous legacy."
About Ilitch Holdings, Inc.
Ilitch Holdings, Inc. was established in 1999 to provide companies owned by Michael and/or Marian Ilitch with professional services. The Ilitch companies represent leading brands in the food, sports and entertainment industries and include Little Caesars Pizza, the Detroit Red Wings, Olympia Entertainment, Blue Line Foodservice Distribution, Champion Foods, Little Caesars Pizza Kit Fundraising Program and Olympia Development. Michael Ilitch owns the Detroit Tigers. Marian Ilitch owns MotorCity Casino Hotel.
About Christopher Ilitch
Christopher Ilitch is president and CEO of Ilitch Holdings, Inc. Christopher has spent his career in a variety of roles throughout the Ilitch companies over the past 29 years. Prior to being appointed Ilitch Holdings' president and CEO in 2004, he served as president of the Little Caesars Pizza Kit Fundraising Program. Christopher serves as chairman of Ilitch Charities, a nonprofit organization with a focus on human services, community development, education and recreation. In addition, he is involved in a number of business and civic groups that help improve and promote Detroit, the region and the state of Michigan. He serves on the board and executive committee for Business Leaders for Michigan and the Downtown Detroit Partnership. He is also a member of the board of directors for the Detroit Economic Club. Christopher has served on host/hospitality committees for several large-scale sporting events in Detroit, including the 2010 NCAA Men's Frozen Four Hockey Championship (co-chair), the 2009 NCAA Final Four Men's Basketball Tournament, Super Bowl XL and the 2005 Major League Baseball All-Star game (chair). Christopher holds a bachelor's degree in business administration from the University of Michigan in Ann Arbor. He and his wife Kelle have three children and reside in metro Detroit.
SOURCE Ilitch Holdings, Inc.
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