Tom Spurgeon's Web site of comics news, reviews, interviews and commentary

October 18, 2004

Make Marvel Mine: Perlmutter to Assume CEO Role

It was announced Friday that Issac "Ike" Perlmutter will take over the CEO role at Marvel Enterprises, replacing the retiring Allen Lipson. The move makes even more clear the control that Perlmutter and his closest business allies have over the publishing, licensing and entertainment company.

The Perlmutter move could almost be described as lateral. Perlmutter owns slightly over 10 percent of Marvel's outstanding stock, making him the largest shareholder, and has enjoyed a much higher profile than 61-year-old Lipson as a driving force behind the company. The labyrinthine financial arrangements between Perlmutter and Marvel, and their effect on Marvel stock, have long been the focus of financial community speculation.

Although past moves at the top of Marvel have had little immediate effect on day-to-day publishing, fans on the news site Newsarama have mentioned the role they believe the new CEO played in responding to direct market retailer complaints about former Marvel President Bill Jemas.

The change will formally take place on January 1, 2005.
posted 7:19 am PST | Permalink

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