David Siegel, the colorful timeshare magnate and husband of the “Queen of Versailles,” has stepped down as CEO of Westgate Resorts, the timeshare company announced this week.

Longtime executive Jim Gissy became the new CEO earlier this month, with Siegel remaining as executive chairman of the board and president.

“I am humbled to take on this responsibility from my mentor and friend for over 40 years, David Siegel,” Gissy said in a statement.

Siegel, 88, had previously announced in 2015 that he was stepping back from the day-to-day operations of the Orlando-based Westgate Resorts to focus on becoming an advocate against opioid addiction in the wake of his daughter Victoria’s death from an overdose. As part of that focus, he created the Victoria’s Voice Foundation.

But the company’s statement said Siegel “will continue to lead all major decision-making of the company.”

“Jim has been my right hand and friend going back 40 years,” Siegel said in the statement. “Jim is an exceptional leader and I could not be happier to have him assume this role at my company. The future for Westgate is very bright!”

Westgate owns seven Central Florida resorts and 22 others across the country, as well as the Cocoa Beach Pier.

Siegel also developed Orlando’s Mystery Fun House attraction, which operated on International Drive until 2001, and owned the Orlando Predators Arena League Football team.

David and Jackie Siegel may be best known nationally for Lauren Greenfield’s 2012 documentary, “Queen of Versailles,” which followed them as they built a 90,000-square-foot mansion, called Versailles House, on Kirkstone Lane near Windermere.

The Seigels also were featured in a follow-up series in 2022, “Queen of Versailles Reigns Again,” which continued to document the construction of the as-yet-unfinished home.

Hurricane Ian later that year caused $10 million in damages to the mega-mansion, according to reports, pushing completion well beyond the scheduled 2023 date.