Palace CEO Alan Ostfield Let Go

AUBURN HILLS (WWJ) - Alan Ostfield is out as President and CEO of Palace Sports and Entertainment.

"We have made some changes as part of an overall realignment of the business side of the organization," said Platinum Equity Group partner Phil Norment, in a statement.

"We appreciate Alan's contributions, but have decided to move in another direction. The search for a President of Business Operations will be completed as quickly as possible. PS&E is also looking to expand its sales force and is in the process of hiring additional sales representatives," Norment said.

Platinum Equity is a private equity investment firm owned by new Pistons owner Tom Gores. Norment and Platinum Equity partner Bob Wentworth will share leadership responsibilities until a replacement is found.