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Timeshare Resort Mogul David Siegel Steps Down from Role as Westgate CEO

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One of Florida’s most successful business owners is stepping down from his role as CEO. Earlier today, the Orlando Business Journal reported that Westgate Resorts founder David Siegel, whose net worth is estimated to be at least $7 billion, handed off his title as CEO to longtime company executive Jim Gissy.

The report followed a press release published by Westgate earlier in the day.

 “It’s an honor to help lead this incredible organization and work side by side with the most talented group of Team Members in the industry, Gissy said. “I am humbled to take on this responsibility from my mentor and friend for over forty years, David Siegel.”

During the past 42 years, Siegel’s timeshare properties span well beyond Florida, as Westgate Resorts expanded to other popular tourist havens, including Branson, MO, Williamsburg, VA, Gatlinburg, TN, Myrtle Beach, SC, Las Vegas and New York City, among others. The release added that Siegel, 88, is expanding his efforts to combat the opioid epidemic in honor of his daughter, Victoria, who died of an overdose in 2015.
“As he has done for the past decade, Siegel is primarily focused on finding ways to solve the ongoing opioid epidemic through the Victoria’s Voice Foundation, named in honor of his beloved daughter,” the release said.

Siegel praised Giss’ experience and leadership in the release.

“Jim has been my right hand and friend going back forty years,” Siegel said. “Jim is an exceptional leader and I could not be happier to have him assume this role at my company. The future for Westgate is very bright!”

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