MLB Giants' Largest Stake Holder Charles Johnson Takes Behind The Scenes Role

MLB Giants incoming CEO Larry Baer said that Franklin Resources Chair & co-Founder Charles Johnson, the club’s largest stakeholder, is “assuming a position similar to the late Harmon Burns -- holding the biggest share but not a day-to-day role,” according to a front-page piece by John Shea of the S.F. CHRONICLE. Baer said, "Anybody who has the largest stake is going to have a loud voice, but Charlie has shown over the years he's interested in the general welfare of the franchise and general smooth operations of the franchise. The last thing he wants to do is get involved in day-to-day operations." Baer confirmed that Johnson “purchased ‘a decent chunk’ of shares from the Burns family after the deaths of Burns in 2006 and his wife, Sue, in 2009, and also is purchasing some shares from outgoing managing general partner Bill Neukom, who's divesting his stake in the team.” Johnson's “ultimate impact on the team and its operations is not yet known.” Team officials said that Johnson “will be a relatively quiet entity, operating behind the scenes,” and Baer will “call the shots.” Baer said that the team “no longer will have a managing general partner running the club, following the structures of other major-league teams,” including the Braves and Phillies, both “with CEOs who report to an ownership board.” Baer, under the new chain of command which goes into effect Jan. 1, "reports to the Giants' executive committee, which includes nine board members." Baer will be added to the board, meaning without Neukom, the “number of partners will be 31” (S.F. CHRONICLE, 9/30).