Maple Leaf Sports & Entertainment has started looking for a new chief executive officer.
The company says current CEO Tim Leiweke will continue in his role until June 30, 2015 or until a successor is appointed.
Leiweke, who joined MLSE in the spring of 2013 and is reportedly under contract for five years, plans to pursue his goal of operating his own business following his departure from MLSE.<
Leiweke made headlines this week after a report indicated he would soon be leaving the company, which counts the NHL's Maple Leafs, NBA's Raptors and Toronto FC of Major League Soccer among its properties.
During a brief media availability Wednesday, he said he was focused on the teams' current and upcoming seasons, but did not reveal how long he wants to stay in his position.
MLSE says the company will continue to operate with its current executive management structure until a new CEO is found.
Here's the press release that was sent out by MLSE:
Larry Tanenbaum, Chairman of Maple Leaf Sports & Entertainment Ltd. (MLSE), today announced that MLSE President and CEO Tim Leiweke has informed the Board that he will continue in his role as CEO of MLSE until June 30, 2015 or until a successor is appointed. Mr. Leiweke plans to pursue his goal of owning and operating his own business following his departure from MLSE.
"Under Tim's leadership, MLSE has made a number of key moves to strengthen our organization on the path to championship success," said Mr. Tanenbaum. "We look forward to working closely with Tim to build on this foundation and further accelerate our momentum as we seek a new leader for MLSE."
Mr. Leiweke joined MLSE as President and CEO in June, 2013. He was formerly President and CEO of international sports and entertainment company Anschutz Entertainment Group. A sports executive for more than 30 years, Mr. Leiweke has had a longstanding ambition to operate his own business.
"It's an honour to lead MLSE, a world-class organization in a city and a country so passionate about sports. But with new opportunities on the horizon, it's time for me to begin the transition from sports and entertainment executive to entrepreneur," said Mr. Leiweke. "Right now, my total focus is here at MLSE and I look forward to working with the Board and MLSE team to continue strengthening our franchises while ensuring a smooth transition to a new leader."
MLSE has begun the search for a new CEO. Until then, the company will continue to operate with its current executive management structure.