Jeremy Jacobs Jr. And Louis Jacobs Named Co-Chief Executive Officers For Global Hospitality Leader Delaware North; Charlie Jacobs Named Chief Executive Officer, Delaware North's Boston Holdings

News provided by

Jan 06, 2015, 10:30 ET

BUFFALO, N.Y., Jan. 6, 2015 /PRNewswire/ -- Jeremy Jacobs, chairman of Delaware North, today announced that his sons, Louis Jacobs, Jeremy Jacobs Jr. and Charlie Jacobs, have been named as chief executive officers.

Louis Jacobs, right, and Jeremy Jacobs Jr., center, have been named as co-chief executive officers for Delaware North, one of the largest privately held global hospitality and food service companies in the world. This post has been held by their father since 1968. Charlie Jacobs, left, will become chief executive officer for Delaware North's Boston Holdings, which include TD Garden, New England Sports Network (NESN), the Boston Bruins and strategic real estate holdings. Jeremy Jacobs will continue in the role of chairman of Delaware North and its holdings and as owner of the Boston Bruins.

Louis Jacobs and Jeremy Jacobs Jr. have been named as co-chief executive officers for Delaware North, one of the largest privately held global hospitality and food service companies in the world. This post has been held by their father since 1968. Charlie Jacobs will become chief executive officer for Delaware North's Boston Holdings. Delaware North's Boston Holdings include TD Garden, New England Sports Network (NESN), the Boston Bruins and strategic real estate holdings.

Jeremy Jacobs will continue in the role of chairman of Delaware North and its holdings and as owner of the Boston Bruins.

Louis Jacobs, Jeremy Jacobs Jr. and Charlie Jacobs have all held senior executive positions as principals of Delaware North over the last several years and have been leading the company's global strategy and platform for growth.

In addition, Charles E. Moran, president and chief operating officer of Delaware North, announced his desire to retire in December 2015. Moran has held the post of president and chief operating officer for over a decade, providing leadership and strategic guidance to the company's operations, resulting in record profits and growth, even in the midst of economic challenges. Moran has been instrumental in building a world-class management team, including attracting leadership from notable organizations and developing high-potential leaders within the organization.

Jeremy Jacobs Jr., Louis Jacobs and Charlie Jacobs have been working closely with Moran on the company's unprecedented growth, including the company's recent re-entry into Asia and the acquisition of Patina Restaurant Group, one of the leading restaurant and catering companies in the United States. They have also been instrumental in the development and leadership of the company's strategic direction, building one of the most admired hospitality and food service companies in the world, with operations on four continents, with 60,000 employees serving half a billion customers in locations that include national parks, luxury resorts, sports stadia and arenas, gaming venues, and travel hospitality in airports.

"I have had the tremendous opportunity to lead Delaware North for more than 45 years and have had enjoyed it immensely," said Jeremy Jacobs. "My sons have been leading the company's strategic direction and path to growth for some time now. Their path has been more evolutionary than revolutionary as they have provided a new perspective and vision that will no doubt ensure the company's success for another 100 years. I am immensely proud of them, and while I still plan on being very active in the business, I know this company is in incredibly capable hands.

"Chuck Moran has been a significant force in the growth and success of Delaware North. His professionalism and business acumen guided us to our outstanding positions in our industries over the last decade, and I look forward to his continued leadership and stewardship through this transition," Jeremy Jacobs also noted.

The Jacobs executives will be supported by the company's executive team and its world-class board of directors, through a corporate governance structure similar to that of its publicly-traded counterparts.

The company will celebrate several important events in 2015, including its 100^th anniversary and the opening of its new global headquarters in Buffalo, N.Y.

About Delaware North
Delaware North is one of the largest and most admired privately-held hospitality companies in the world. Founded and owned by the Jacobs family for nearly 100 years, it is a global leader in hospitality and food service with operations in the sports, travel hospitality, restaurants and catering, parks, resorts, gaming and specialty retail industries. Its portfolio includes high-profile venues ranging from sports stadiums, entertainment complexes, national parks, restaurants, airports, and some of the top regional casinos in the country. The company also owns a selection of award-winning destination resorts, as well as a series of premium restaurants and catering services that are leaders in the industry. Delaware North has annual revenue exceeding $3 billion with 60,000 employee associates serving half a billion guests in the United States, Canada, the United Kingdom, Australia, New Zealand, and Asia.

Photo - http://photos.prnewswire.com/prnh/20150106/167243
Logo - http://photos.prnewswire.com/prnh/20141105/156847LOGO

SOURCE Delaware North