Philip J. Smith, chairman and co-CEO of The Shubert Organization, is retiring after greater than six many years serving to to run one of many largest and most influential theater corporations on this planet.
Present president and co-CEO Robert E. Wankel will lead The Shubert Organization as chairman and CEO and can function chairman of The Shubert Basis, the corporate’s charitable arm, which funds non-profit theater and dance corporations. Smith will step down on June 30 and can develop into chairman emeritus.
“The retirement of Phil Smith is a pivotal second not solely within the historical past of The Shubert Organization but additionally within the historical past of the American Theatre,” Wankel stated in a press release. “His knowledge from years of expertise has influenced each side of the skilled theatre. From the ushers as much as the best performers and inventive skills of our time, he is among the most admired and revered people the trade has ever recognized. It’s a legacy to be very happy with and I salute him as a large of the American Theatre and a most beloved member of the Shubert household.”
Smith spent 63 years with Shubert, which owns and operates 17 Broadway theaters and 6 Off-Broadway venues.
“The choice to retire feels precisely proper presently in my life,” stated Smith. “The present COVID-19 disaster has pushed the enterprise of Broadway into uncharted territory. It appears an applicable time for me to step down and switch over my management tasks to my pal and colleague, Bob Wankel.”
Certainly, the coronavirus has introduced the theater enterprise to its knees. Broadway is closed and lots of insiders doubt it can reopen till 2021.