Marcus Corp. board chairman steps down
Stephen Marcus will be succeeded by his son
Stephen Marcus is stepping down as board chair at Milwaukee-based hotel and cinema operator Marcus Corp. and will be succeeded by his son.
Marcus, who served more than 30 years in that role, has been appointed as non-director chairman emeritus and special adviser to the company.
His son, Gregory S. Marcus, was named new board chairman. He also will continue to serve as chief executive officer and president of Marcus Corp.
Steve Marcus joined the company, founded by his father, Ben, in 1962 after working in accounting and law.
He presided over decades of growth and change, including taking the company public and expanding the organization to the nation’s fourth-largest movie theater circuit as well as additional hotel and resort properties. Marcus Corp. has more than 8,000 employees in 18 states and annual revenue of $677.4 million.
Marcus was chief executive officer from 1988 to 2009, and served as board chair since 1991. He also led such civic efforts as the renovations to the Marcus Performing Arts Center and Sculpture Milwaukee.
“On behalf of our board of directors, tens of thousands of past and present Marcus Corporation employees, and so many others, thank you dad,” said Greg Marcus, in a statement.
“Words will never be enough to describe what Steve Marcus means to our company, the city of Milwaukee and our family. His strong work ethic, business acumen, depth of character and total lack of ego serve as the model for me and so many others who have had the privilege of working alongside him. Speaking for all of us, we are grateful for all he has done – and will continue to do – to grow our company and better our communities,” he said.