Glen Taylor handing the keys to Taylor Corp. to his niece

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Taylor Corp. founder Glen Taylor is stepping down from his position as CEO of the billion-dollar, North Mankato-based printing and marketing organization.

Taylor, 74, announced Tuesday that he's turning the CEO role over to his niece, Deb Taylor.

The Mankato Free Press notes Glen Taylor, also the owner of the Minnesota Timberwolves and the Star Tribune, will maintain his position as chairman of the board at Taylor Corp.

The Star Tribune reports that Deb Taylor joined the company four years ago. Her duties as CEO will begin immediately.

“When Deb joined the company more than four years ago, I knew that she would learn our business quickly,” Glen Taylor said in a statement, according Twin Cities Business. “I look forward to seeing Taylor Corp continue to thrive under her leadership.”

Glen Taylor has been mentoring his niece for the role since at least last October, the Star Tribune said.

Taylor Corp. owns 80 companies worldwide and more than half of the Fortune 500 companies are affiliated with the institution.

Forbes estimates Glen Taylor is worth $2.4 billion.

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The North Mankato-based printing and marketing giant has reached an agreement to buy Fort Worth-based Venture Encoding and Dallas-based CardsDirect. Venture provides loan servicing communications and marketing solutions to large financial institutions. CardDirect is a catalog and Internet-based greeting card company. Taylor Corp. CEO Glen Taylor also owns the Minnesota Timberwolves.