SAN ANTONIO -- The Spurs announced Wednesday that Peter Holt has retired as the organization's chairman and CEO, and that his wife, Julianna Hawn Holt, will become his successor in both roles.
Peter Holt held the positions of chairman and CEO since 1996, when the Holts became the organization's largest shareholder.
Peter Holt will remain on the organization's board of managers and continue to serve as part of the ownership group, while Julianna Hawn Holt will become the team's governor on the NBA's board of governors.
With Peter Holt and Julianna Hawn Holt holding equal stakes as San Antonio's largest shareholder, sources within the organization expect a seamless transition, and consider the latest move as one that ensures consistency and continuity throughout.