SALT LAKE CITY — After seven years as CEO of the Larry H. Miller Group of Companies, Greg Miller announced that he is stepping down.
Greg Miller’s mother, Gail Miller remains the owner of the LHM Group. She announced Monday that she would transition the Group to a new corporate structure.
The Larry H. Miller group, which includes the Utah Jazz, the Salt Lake Bees, the motorsports park, as well as various movie theaters and car dealerships is entering into a new phase for its companies, which will consist of a board of directors rather than a single CEO.
It’s not a resignation or a demotion said Linda Luchetti spokeswoman for the Larry H. Miller companies. The stepping down of CEO Greg Miller and his brother Steve from his role as president of Miller Sports properties has been part of the plan all along.
“This is something that they’ve been planning Larry and Gail had planned before Larry’s passing and then Gail and Greg and Steve and Brian and the other members of the family of been planning since Greg became CEO,” Luchetti said.
The new structure, which will include an outside board of directors, is designed to allow the family to step back and maintain ownership without having to oversee day to day operations.
“Greg is a very hands-off manager he’s doubled the size of the company in revenue and employees in the last seven years and believes he’s put the right people in the right place to run the business on a day-to-day basis and they know what they are accountable for,” Luchetti said.
“This is the right move for me personally, for my family and for the business. It has been a privilege to fill the role of CEO and to be a steward of this outstanding organization that my parents sacrificed so much to create and develop. The Larry H. Miller Group of Companies is now entering a new phase and requires a new structure. I have been fortunate to have worked with some of the best and brightest people anywhere,” Greg Miller said.
It hasn’t been decided whether Greg and Steve Miller will sit on the new board of directors. Gail miller will remain the owner.
“Today is a significant day in the history of this company. The changes announced in the organizational structure of the Group are a natural evolution of a large and growing enterprise. Larry’s dream was for our businesses to survive the two of us well into the future. This change will provide the structure for that to happen. Greg was successful in taking over for Larry while facing one of the toughest economic times in our country’s history. He has done an outstanding job leading this organization and his many accomplishments will have a profound, lasting effect on our family businesses and our communities for generations to come. I am extremely proud of the work he has done and very appreciative of his excellent leadership these past seven years,” Gail Miller said.
Utah Jazz president Randy Rigby released the following statement:
“I can reassure fans that the Jazz are conducting business as usual and that the changes are designed to keep the LHM Group, including the Utah Jazz, intact as a community asset for future generations. We are grateful to Greg for his many contributions in supporting the Jazz, and look forward to him continuing to serve as our Governor on the NBA Board and as an active member of several NBA executive committees. As owners, the Miller family still runs the Jazz and remains engaged and committed to building a championship-caliber team.”
Below is the full released sent from the Larry H. Miller Group of Companies:
“After seven years as CEO of the Larry H. Miller Group of Companies, Greg Miller has announced that he is stepping down to pursue personal interests. Gail Miller, owner of the LHM Group announced today that she would transition the Group to a new corporate structure. The new structure, which will include an outside board of directors, is designed to provide for multi-generational family ownership and future growth. In addition to Greg’s departure from his day-to-day role, Steve Miller has also chosen to step down from his role as president of Miller Sports Properties to assist in other areas of the family’s interests. Bryan Miller will retain his position as President of Miller Inspiration. All three will fill roles in family governance.
Greg Miller said: “This is the right move for me personally, for my family and for the business. It has been a privilege to fill the role of CEO and to be a steward of this outstanding organization that my parents sacrificed so much to create and develop. The Larry H. Miller Group of Companies is now entering a new phase and requires a new structure. I have been fortunate to have worked with some of the best and brightest people anywhere.”
The Larry H. Miller Group has experienced unprecedented growth during Greg’s tenure. Under his leadership the Group has doubled in revenue and number of employees and now includes more than 80 companies across the United States. He also led the Utah Jazz through some of the most challenging years in franchise history overseeing numerous changes involving coaches, players and front office staff.The Larry H. Miller Management Corporation under the direction of Clark Whitworth, its president, has assumed Greg Miller’s responsibilities. Jim Olson, currently chief operating officer at Miller Sports Properties, will assume Steve Miller’s responsibilities on an interim basis. The presidents of the other enterprise groups will continue in their current roles.Gail Miller, owner of the Larry H. Miller Group of Companies said, “Today is a significant day in the history of this company. The changes announced in the organizational structure of the Group are a natural evolution of a large and growing enterprise. Larry’s dream was for our businesses to survive the two of us well into the future. This change will provide the structure for that to happen. Greg was successful in taking over for Larry while facing one of the toughest economic times in our country’s history. He has done an outstanding job leading this organization and his many accomplishments will have a profound, lasting effect on our family businesses and our communities for generations to come. I am extremely proud of the work he has done and very appreciative of his excellent leadership these past seven years.”
