Tom Miserendino (pictured) is to retire as president and chief executive of AEG’s European operations at the end of the year, with current chief operating and financial officer Alex Hill to take his place.

Miserendino held his top spot for five years, though he’s been with AEG since 2002. The company runs venues such as The O2 and SSE Arena, Wembley in London, while its promoting arm operates events such as British Summer Time Hyde Park and All Points East.

“Alex is the perfect choice to succeed Tom,” said Jay Marciano, chief operating officer of AEG and chairman and chief executive of AEG Presents.

“He has been instrumental in helping to develop and execute our corporate strategy in Europe which has strengthened and grown our regional operations. He is an inspirational leader and is very knowledgeable about our European operations, customers, partners and employees. We look forward to a smooth transition, and to continued operational and financial success under Alex’s leadership.”

Hill has held his role as of AEG Europe’s chief operating officer for the past six years and has been its chief financial officer for the past 11 years.

“It has been a pleasure to work with Tom over the last five years, and I’m committed to continuing his legacy of excellence as AEG develops and delivers outstanding fan-focused experiences,” Hill said.

“AEG has long been leading the industry in responding to the continued customer demand for memorable and unique live experiences, and I look forward to working closely with our talented European teams as we pursue opportunities for our company to grow.”

Marciano added that Miserendino’s leadership has helped to complete two key corporate initiatives, which were the opening of Mercedes Platz, the new entertainment district in Berlin, and the opening of ICON Outlet, a premium outlet shopping centre at The O2.

Miserendino said: “It has been an honour to lead this great company and I am extremely proud of everything we have accomplished together. I also am confident that as Alex takes the lead, the company will continue its growth trajectory in Europe and that he and the team will further build on our solid foundation. With Alex’s extensive leadership experience and the overall strength of the company’s management team, now is the perfect time to implement our succession plan so that I can spend more time with my family. I am very confident that AEG’s best days continue to lie ahead.”