Indiana Pacers Sports & Entertainment announced Wednesday that Herbert Simon, co-owner of the Pacers with his brother Melvin for the past 25 years, will serve as the Chairman and Chief Executive Officer of Pacers Sports & Entertainment (PS&E) effective immediately.

“I am committed to returning this team to its proud winning tradition as well as strengthening the connection of the entire organization to the community,” said Simon. “Indianapolis and Indiana are vitally important to the Simon family and I realize how important the Pacers are to the city and state. I’m passionate to do whatever I can to enhance the franchise on the court and in the community.”

As previously announced, Larry Bird is the President of Basketball Operations for the Indiana Pacers. It was announced on Wednesday that Jim Morris will assume the role of President of PS&E. Morris will oversee the business operations for the Pacers, Indiana Fever and Conseco Fieldhouse.

“I’ll rely on these two strong leaders on a day-to-day basis,” Simon said, adding that both will report directly to him.

Additionally, Rick Fuson has been elevated to Chief Operating Officer of PS&E. “We have a strong management team in place, and we look forward to the future,” concluded Simon.