Richard Peddie addresses reports he will be stepping down
Maple Leafs' Sports and Entertainment president and chief executive officer Richard Peddie responded to reports that he would be stepping down from his post, by saying that he is “not going anywhere for a while yet.”
The Toronto-based radio station The Fan 590 cited five separate sources, who stated that Peddie would be resigning from his post as the president and CEO of MLSE and that the company was currently in search of his replacements.
However, further investigation by the Canadian Press has indicated that Peddie has no plans of leaving his post and therefore MLSE has no immediate plans to replace him.
“Right now it’s just speculation and we have no announcement,” MLSE spokeswoman Rajani Kamath told the Canadian Press.
Peddie has been with MLSE since 1996 when the company’s assets included the Toronto Maple Leafs and the Toronto Raptors. Since that time, Peddie has grown the company to include the Toronto F.C., who are a Major League Soccer franchise, the opening of the
Air Canada Centre and the development of prime real estate around the city.
“Someday I will retire. Given my age that will be sooner than later,” Peddie told TSN. “MLSE has had a CEO succession plan for years. Good companies do that. And of course my departure will coincide with my successor coming on board.”
Peddie was recently involved in the development of a $500 million building project, which created Maple Leafs Square outside of the ACC and includes two condo towers, a hotel, office space, an apparel store and a sports bar.
MLSE would have little reason to part ways with Peddie, as the Maple Leafs are the highest valued hockey franchise in North America, and the company has experienced incredible growth since his takeover.
Tags: