As expected, the company's COO will step into the top role following Ted Forstmann's death on Sunday
Michael Dolan has been unanimously elected chairman and chief executive officer of IMG Worldwide, the media and sports agency announced Wednesday.
The move follows the death of IMG chief Ted Forstmann from brain cancer on Sunday.
Dolan joined IMG in 2010 as the company's chief financial officer and was appointed chief operating officer in April 2011.
He was seen as Forstmann's proxy and designated successor after the IMG head was diagnosed with terminal cancer.
However, the past few months have been bumpy ones. As TheWrap reported exclusively in September, Dolan and IMG's directors moved to stifle an attempt by board member Mike Ovitz to take over the agency.
That failed coup ended with Ovitz's ouster from the board days after the news broke.
The board vote for Dolan to take the reins at the company was unanimous, IMG said in a release.
“IMG has lost an outstanding leader and friend in Ted Forstmann,” Dolan said in a statement. “I am proud and honored to take on this role and to continue building IMG for future growth and success.”
Prior to joining IMG, Dolan served as executive VP and CFO of Viacom, where he led the spin-off of Viacom from CBS into a new and independent public company.