HomePublicationsNewsletter ArchiveNewslettersVolume 22Issue 14ILITCH COMPANIES VOW TO MAINTAIN FUTURE FAMILY OWNERSHIP AND LEADERSHIP

Yesterday, May 5, 2016, Ilitch Holdings, Inc., which represents leading brands in the food, sports and entertainment industries, including MotorCity Casino Hotel, shared plans to maintain 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." 

 

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