Financier Michael Gordon has been tapped as the next chairman of the Orange County Performing Arts Center.
Gordon, chairman of Irvine-based Stonecreek Capital Inc., was named chairman designate pending his formal election in August. His selection has been expected for months.
He replaces Paul Folino, chief executive of Costa Mesa-based Emulex Corp. who took over as chairman in spring 2002.
Folino is set to become chairman of the New Majority, a moderate Republican group.
Stonecreek Capital is a private equity investment firm that specializes in management buyouts.
Gordon’s also a director of Glendale-based IHOP Corp.
He and wife Eleanor “Ellie” have been involved with the arts center for years. Gordon served as chairman of the performing arts center’s bond-financing committee and played a key role in 2004’s issuance of tax-exempt bonds to fund the center’s $200 million expansion.
Along with more than $100 million in donations, the bond proceeds are set to go toward a 2,000-seat symphony concert hall, a 500-seat theater, an education center and rehearsal rooms.
The expansion is set to be done by 2006.
At the time Folino took over, the Costa Mesa center was reeling amid a shareholder lawsuit filed by some board members against Irvine-based Broadcom Corp.
The suit pitted arts patrons versus Broadcom’s founders, Henry Nicholas and Henry Samueli, who both have been big givers to the performing arts center.
Tom Tierney, president of Tustin-based vitamin maker VitaTech International Inc. and a plaintiff in the lawsuit, was set to become chairman in July 2002 but reluctantly withdrew because of the tension created by the litigation.
Folino emerged as a peacemaker and is himself a big arts supporter. He called Gordon “the ideal person” to take over as chairman.
