Marvel Enterprises, Inc. has announced that Peter Cuneo, President and CEO of the company since July 1999, will retire at the end of this year and be replaced as CEO by Allen Lipson, who has been Marvel's EVP Business and Legal Affairs since November 1999.  Cuneo will remain on the Marvel board after the transition period.  Lipson has had a prominent role in negotiating Marvel's entertainment and licensing relationships over the past few years, a tremendous source of company growth.  Prior to his tenure at Marvel, he spent time at consumer products companies Remington Products Company (shavers) and BIC (pens and shavers).  He graduated from Columbia Law School and his undergrad degree was from the University of Wisconsin (which we are sure has been a major factor in his success). 

 

In his parting comments, Cuneo made clear that his was a turnaround role that had been completed.  'For the past twenty years I have enjoyed the challenge of leading organizations that were in need of fundamental change and ultimately placing them on solid ground,' he said.  'With support from a group of superb senior managers and from every employee, this stability has been achieved at Marvel.'  Marvel did not announce who would take Cuneo's role as President.