Lee J. Seidler, one of the company's board members, told Bloomberg.com that the Shubert's board of directors will convene Dec. 2 to select its new leader.

The new Chairman will oversee not only the organization's numerous Broadway houses but also the $300 million Shubert Foundation.

The Shubert Organization is currently headed by President Philip J. Smith and Executive Vice President Robert E. Wankel.

The Shubert Organization's 17 Broadway houses include the Ambassador, Belasco, Bernard B. Jacobs, Booth, Broadhurst, Broadway, Cort, Ethel Barrymore, Gerald Schoenfeld, Imperial, John Golden, Longacre, Lyceum, Majestic, Music Box, Shubert and Winter Garden. The company also owns the Shubert Theatre in Boston, the Forrest Theatre in Philadelphia and Off-Broadway's Little Shubert Theatre and manages the National Theatre in Washington, D.C.

Gerald Schoenfeld, a man routinely referred to as the most powerful man on Broadway, died at his Manhattan home Nov. 25. To read Playbill.com's complete obituary about the legendary producer and theatre owner, click here. For more information visit www.shubertorganization.com.