Isaac Perlmutter, 61, has been promoted from vice chairman to ceo of Marvel Enterprises, effective Jan. 1, 2005. He will replace president/ceo Allen S. Lipson, 61, who has decided to retire after more than five years with the company.
Perlmutter has been actively involved in the management of Marvel since acquiring its predecessor in 1990. He has served as a director since 1993, served as chairman of the board from 1993 to 1995, and was named vice chairman of the board in 2001. All Marvel division heads will report directly to Perlmutter.
Lipson joined Marvel in 1999, as evp, business and legal affairs and secretary, and played an instrumental role in the company's turnaround. He became president/ceo on Jan. 1, 2003. Lipson was vp, administration, general counsel and secretary of Remington Products Co. Llc.
"Isaac Perlmutter's appointment as ceo is an acknowledgement of his drive, talent and contributions which have enabled Marvel to emerge as a powerful global competitor with an unparalleled library of intellectual property and creative talent and a unique and highly profitable business model, said Morton E. Handel, non-executive chairman of the board. As our talented senior management team, board and employees work together to chart Marvel's next phase of growth, I cannot think of anyone more qualified to lead this exciting effort."
Handel added, "Allen Lipson has played an invaluable role in Marvel's turnaround since joining the company in late 1999. Since then, Allen has been a critical part, and for the past two years has been the leader, of the management team that has led the company through an extraordinary transformation. He leaves with Marvel debt-free, at a new level of global prominence, and with a record of strong financial performance. We thank him for the strong operational and financial position we now find ourselves in. We are sorry to see him go, and wish him well in his retirement."
With a library of more than 5,000 characters Marvel Enterprises Inc. is one of the worlds most prominent character-based entertainment companies. Marvels operations are focused in four areas: entertainment (Marvel Studios), licensing, comic book publishing and toys (Toy Biz). Marvel facilitates the creation of entertainment projects, including feature films, DVD/home video, videogames and television based on its characters and also licenses its characters for use in a wide range of consumer products and services including apparel, collectibles, snack foods and promotions. For more information, visit www.marvel.com