Dolan Steps in as IMG Pres. with Forstmann Treated for Cancer

May 6, 2011

After it was announced yesterday, May 5, that its chairman and CEO Ted Forstmann is being treated for brain cancer, global sports management powerhouse IMG has elevated its executive vice president and CFO Mike Dolan to president and COO. 

A memo released to employees by Jim Gallagher, IMG’s chief communications officer, stated: “Ted continues in his position as chairman and chief executive officer and will be working closely with Mike to continue his long-term strategy of growing IMG’s business.” 

Forstmann, 71, bought IMG for $750 million in 2004. Dolan, 64, has been at IMG since March 2010, following a career that included senior management positions at Viacom, Inc., and chairman and CEO of Young & Rubicam.