AEG CEO and president Tim Leiweke to leave, company taken off market

Tim Leiweke, who has served as president and CEO of mammoth arena operator AEG, is stepping down. AEG owns the Los Angeles Kings, Los Angeles Galaxy, and part of the Lakers. The company’s chairman, Philip Anschutz, is taking AEG off the market and will resume a more active role in the company.

According to Daniel Kaplan, the press release states that the decision was reached in a mutual agreement.

“We appreciate the role Tim has played in the development of AEG, and thank him for the many contributions he has made to the Company. We wish him well in his new endeavors,” said Mr. Anschutz.

Dan Beckerman will assume the position of President and CEO. Beckerman joined AEG more than 15 years ago and served as the company’s CFO and COO.

The news came as a surprise, including SI’s senior soccer writer, Grant Wahl:

AEG taken off market, Tim Leiweke out, Phil Anschutz re-engaging and not retiring. Wow. (via @dkaplansbj)—
Grant Wahl (@GrantWahl) March 14, 2013

Tim Leiweke's MLS legacy is big. Landed Beckham & Keane for LA Galaxy, built LA into 9-figure franchise value, flagship of league.—
Grant Wahl (@GrantWahl) March 14, 2013