Businessman Glen Taylor has retaken the helm of Taylor Corp., the Mankato-based communications-services company, for the second time in nearly a decade after announcing that his niece, Deb Taylor, has stepped down.
Deb Taylor had served as chief executive of the graphics communications, printing and marketing firm since June 2015 after spending several years learning the ropes under her uncle's guidance. Taylor's daughter Jean left in 2010 after nine years as CEO.
Taylor Corp. is one of the nation's largest privately held companies, with more than 80 subsidiaries and 12,000 employees across North America and seven other countries. Taylor, 78, a self-made billionaire who built the company from a small wedding-card business in 1975, declined to be interviewed.
Glen Taylor's separate holdings include the Star Tribune, Iowa-based Rembrandt Foods and the Minnesota Timberwolves and Minnesota Lynx professional basketball teams. Jean Taylor is chair of the Star Tribune Media Co.'s board of directors.
In a statement, Glen Taylor said he was assuming leadership responsibilities from Deb Taylor "with a heavy heart."
"I am very proud to have had the opportunity to work with her over these last eight years and am grateful for her leadership as CEO of the organization," said Taylor, who also is corporate chairman. "In that time, she has not only led the organization through two significant acquisitions, but provided sound counsel to me on a number of other matters. I wish her only the best in the next chapter of her life."
Rank-and-file employees learned of the decision on Wednesday.
Deb Taylor came to the family-owned business in 2011 and spent four years without a title, working in finance, human resources, legal and IT, according to a 2014 interview she did with the business magazine, Connect. Glen Taylor spoke publicly of mentoring her to take command of the company.
