Mike and Marian Ilitch, the chairman and vice-chairwoman of Ilitch Holdings, which includes the Detroit Tigers, Detroit Red Wings, and Little Caesars Pizza, announced on Thursday a succession of power plan that would keep those businesses in the family going forward.

Christopher Ilitch, 50, the current president and CEO of Ilitch Holdings, will take over as chairman once his parents relinquish their current roles.

The Ilitch's founded Little Caesars in 1959, they bought the Detroit Red Wings from the Norris family in 1982, and they purchased the Tigers from Domino's Pizza head Tom Monaghan in 1992.

Story Here:  http://www.detroitnews.com/story/sports/2016/05/05/ilitch-family-announces-succession-plan/83990532/