Arielle Tepper Madover
Arielle Tepper Madover
(© David Gordon)

The The Public Theater's board of trustees announced today that Tony Award-winning producer Arielle Tepper Madover (Lucky Guy, Red, Spamalot) has been named the theater's new board chairman. She succeeds former President of Bear Stearns Companies Warren Spector, who has held the post since 2005 and will continue to serve on the board's executive committee.

Madover joined the board in 2009, becoming one of the Public's most active fundraisers for galas, events from which the theater derives a large portion of its annual revenue. Her experience with commercial theatrical ventures is expected to aid the theater in its shift toward more commercial projects. According to The New York Times, Artistic Director Oskar Eustis and Executive Director Patrick Willingham have doubled the Public's annual operating budget to $28 million over the past eight years and hope to remount its recent hit musical Here Lies Love with commercial partners in 2014.