PHOENIX — Robert Sarver, the owner of the Phoenix Suns, has retired from his other high profile position, the executive chairman of Western Alliance Bancorp (NYSE: WAL).
The bank holding company, which has subsidiaries like Western Alliance Bank and Alliance Bank of Arizona, has had Sarver in leadership since 2002. From 2002 to 2018 Sarver was the CEO of WAB. He has served on the board of directors since 2002 and as the executive chairman since March 2018.
“With the company well-positioned for continued success and growth, the time is right for me to begin a new chapter,” Sarver said in a statement. “I will always cherish and be grateful for the experiences I have had and the relationships I have made during my time at Western Alliance. I have the utmost confidence in the executive team and the oversight of our highly experienced and capable Board moving forward.”
Sarver will end his term with WAB at the company’s annual meeting of stockholders in June.
Read more of this story from the Phoenix Business Journal.