by
Chris Ilitch
Ilitch Holdings CEO Chris Ilitch and his wife Kelle Ilitch have filed for divorce, reports Violet Ikonomova of the Detroit Free Press.
Ikonomova reports:
Chris Ilitch formally took over the teams and other companies in a portfolio that includes Little Caesars Pizza and Olympia Development after the 2017 death of his father, Mike Ilitch. Ownership structures of the various businesses are unknown, and Mike Ilitch left behind five other living children and his wife and business partner, Marian Ilitch, reportedly now worth $3.9 billion.
But according to the Detroit News, the couple issued a statement saying their marital split will have no impact on the businesses.
“After thoughtful consideration, we will be transitioning into separate lives and do so with love, friendship, and a commitment to our children," Chris and Kelle Ilitch said in a joint statement provided by Chris's attorney David Mendelson on Tuesday. "We will support each other in our new journey and continue to focus on family, friends, and community. We have settled this matter, and it will have no impact on the ownership or operation of the Ilitch businesses. We ask that you respect our privacy during this time.”
Carol Breitmeyer of family law firm Breitmeyer Cushman PLLC in Royal Oak, tells the Freep:
“In any family owned business, when an owning spouse is getting divorced, the other spouse is bought out typically so no one is breaking up the family business. It’s simply a matter of understanding the value and the equitable share of the nonworking spouse.”
