San Antonio Spurs owner Peter Holt has been elected Chairman of the NBA Board of Governors, replacing Minnesota Timberwolves owner Glen Taylor, whose held the position since 2008.
Holt, in his 17th year as CEO Spurs Sports and Entertainment, has been a member of the Board of Governors for the past 16 years.
Prior to his role as chairman, Holt will have worked with five committees, including the Audit & Compensation Committee and the Labor Relations Committee.
NBA commissioner David Stern, who announced today that he will retire in February of 2014, commended Holt for his experience and leadership.
“Glen Taylor’s wisdom and counsel over the past four years have been invaluable,” Stern said. “Peter Holt’s extensive Board experience and committee leadership make him an ideal choice to succeed Glen. I thank Glen for his dedicated service and commend the Board of Governors on its laudable selection of Peter as chairman.”
Holt was an instrumental force in severing the lockout last year, subsequently saving the season.