By Kimie Bunyasaranand
March 14, 2013

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:

https://twitter.com/GrantWahl/status/312245952016687105

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