Madison Square Garden CEO steps down, reason unclear

By Sports FOXBusiness

(Associated Press)

David “Doc” O’Connor has stepped down as president and CEO of the Madison Square Garden Company (MSGN), the company said Monday.

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James Dolan will replace O’Connor and serve as interim CEO. Dolan also serves as executive chairman of the Madison Square Garden Company and MSG Networks.

The circumstances behind O’Connor’s departure are unclear. MSG did not explain his exit in a press release, and a representative declined to comment further.

“The Madison Square Garden Company today announced that David O'Connor has stepped down as President and Chief Executive Officer, effective immediately. James Dolan, Executive Chairman, has assumed the additional role of interim Chief Executive Officer,” the company said in a statement.

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MSG Company shares fell more than 2% in trading Monday. However, the stock is up about 200% since O’Connor took over as CEO in July 2015, according to the Hollywood Reporter.

MSG owns and controls its namesake arena in New York City, as well as the NBA’s New York Knicks and the NHL’s New York Rangers.

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