In Lites' place, president Brad Alberts will add CEO to his title.
As chairman, Lites will serve and provide counsel to Alberts, among other business-related responsibilities, the release states. Alberts will oversee "the entire operations" of the team.
"I have spent the majority of my career here in Dallas," Lites said. "This organization means the world to me and my family. I'm thrilled to remain active in advising the leaders of the Stars, as well as expanding the various business initiatives that the Gaglardi family has outside of the hockey world. I've had the pleasure to both mentor Brad, as well as partner with him, for over two decades. I know he is ready for this challenge."
Lites is in his third stint with the Stars organization (1993-02; 2003-07; 2011-present). He created controversy in December 2018 when Lites said leading scorers Jamie Benn and Tyler Seguin were "f------ horseshit." General manager Jim Nill and the NHLPA condemned Lites' comments, with the union calling them "reckless and insulting." Benn responded by saying "I don't play for him. I play for every player in this room."