Phoenix Suns owner Robert Sarver retiring as Western Alliance executive chairman amid NBA investigation

Phoenix Suns majority owner Robert Sarver will be retiring as executive chairman from Western Alliance Bancorporation in June, ending a two-decade tenure with the nearly $56 billion asset company.

The company's recent announcement of Sarver's impending departure comes amid the NBA's investigation into the Suns and Sarver, which the league launched in early November 2021 after ESPN published a story detailing allegations of racism and misogyny in a sometimes hostile and toxic workplace during Sarver's 17-year tenure as majority owner. Sarver has denied allegations in ESPN's story.

Sarver has held the title of executive chairman at Western Alliance Bancorporation since 2018 and has held a seat on the company's board, which he will also vacate in June, since 2002.

«It has been an honor to serve as executive chairman of Western Alliance Bancorporation,» Sarver, who also served as the company's CEO from 2002 to 2018, said in a statement. «I want to offer my sincere appreciation to our employees, whose hard work and dedication have allowed us to achieve so much during my 20 years at the company. With the company well positioned for continued success and growth, the time is right for me to begin a new chapter. I will always cherish and be grateful for the experiences I have had and the relationships I have made during my time at Western Alliance. I have the utmost confidence in the executive team and the oversight of our highly experienced and capable board moving forward.»

Western Alliance Bancorporation CEO and President Kenneth Vecchione said in a statement, in part, «Robert's vision and leadership made the remarkable success of Western Alliance possible. Robert was honest, transparent, and led the company with integrity