Spurs Sports & Entertainment announced that Peter J. Holt has "succeeded his mother," Julianna Hawn Holt, as Chair & co-CEO of the company, according to Tom Orsborn of the SAN ANTONIO EXPRESS-NEWS. Julianna Hawn Holt had held the posts since March '16, when she "succeeded her husband," Peter M. Holt, after he "stepped down following a 20-year stint." The Spurs also announced Peter J. Holt and Corinna Holt Richter would "succeed their parents on the organization’s board of managers." Peter M. Holt allowed Spurs coach Gregg Popovich and President & GM R.C. Buford to run the team "without interference," a model that helped pave the way "for the club to become one of professional sports’ premier franchises." Stephen Lang, the only remaining original Spurs investor, "predicted it would be 'business as usual' for the club with the younger Holts in charge." Lang said, "I have no reason to think otherwise. They are both quick studies, and I think highly of them." Orsborn noted Peter and Julianna Hawn Holt became the Spurs’ "largest shareholders" in '96. They are "believed to own" about 40% of the team (SAN ANTONIO EXPRESS-NEWS, 3/30). Popovich said that he expects the Holt children to "continue the tradition of low-key ownership established by their parents." Popovich: "We have full confidence in them. They’re really intelligent, hard-working people who understand the organization. They’ve grown up with it" (SAN ANTONIO EXPRESS NEWS, 3/31).
