Thursday, June 16, 2011

Another Ilitch Leaves Family Business


Atanas Ilitch is leaving the family business.

The son of pizza and sports icon Mike Ilitch said today that he is resigning as president of Olympia Development. The real estate company, owned by Mike and Marian Ilitch, handles the real estate for all their companies.

The move was announced in a press release issued today in which Atanas Ilitch cited “outside business interests” requiring his attention as he leaves Olympia Development.

“The team we have at Olympia Development is highly capable, which makes me very comfortable in making this move at this time,” he said in the press release.“ My personal business interests continue to require more of my day-to-day time and attention.

“In my opinion, this is a win-win, and I look forward to recruiting a highly capable and experienced individual to lead Olympia Development into the future.”

A request for an interview was sent to Ilitch this afternoon, but no response was given.

Chris Ilitch, president and CEO of Ilitch Holdings Inc., said his brother has been a key part of the business.

“I greatly appreciate the leadership that Atanas has provided at Olympia Development over the last six years and the tremendous vision and leadership he has shown in our community,” Chris Ilitch said in the statement.

“My brother is one of the most passionate and creative persons I know, and he is absolutely committed to making our community a better place for all.”

Atanas Ilitch became president of Olympia Development in 2005. He has held other positions in the Ilitch companies over the years, including president of Olympia Entertainment from 1993 to 2000.

The search will begin immediately for a new president of Olympia Development. Atanas will help find his successor and stay on until that person is appointed, according to the company’s statement.

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