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!” read more