INDIANAPOLIS (WISH) — Pacers Sports & Entertainment CEO Rick Fuson will retire after 40 years as the organization’s executive.

Fuson announced Wednesday, effective June 18, that he will retire from his role as CEO of the Pacers organization. Fuson joined PS&E in June of 1984 as director of special events and moved into the role of CEO at the beginning of 2022 after serving as president and chief operating officer since 2014.

Fusion will remain an advisor to the owner and chairman, Herb Simon. Current President and COO Mel Raines will take over as CEO at the beginning of June. Chief Commercial Officer Todd Taylor will become president of business operations.

“Nobody cares more deeply for this company, our people, or this city than Rick, and that above all is what has made him such a transformational leader and effective advocate for four decades,” said Simon in a release. “Rick rose through the company, approached every role with enthusiasm and loyalty, and grew into one of the very best in this industry, and I am so proud of him and so grateful for his years of incredible work and friendship.”

Fuson has been a recipient of several prestigious awards over his career, recognitions that highlight the impact he has had in the sports and entertainment industry and beyond, per a news release, he was recognized in 2023 by Indiana University College of Arts & Sciences as their Distinguished Alumnus and, in 2021 he was commended by the national Sports Business Journal in their special section honoring Leaders in Diversity and Inclusive Hiring.

“My entire career has been, in some form or fashion, an effort to leave my city and state a stronger and more inclusive place than I inherited it, and I am so fortunate to have spent four decades working for and alongside amazing people who share that commitment,” said Fuson in a release. “Herb Simon and the Simon family have given me the opportunity to help lead this company and grow Indianapolis, and words could never express my gratitude to them. I’m looking forward to watching Mel and the staff excel and find new ways to grow the impact PS&E can make, on and off the court.”