By Steve Tawa

PHILADELPHIA (CBS) — There will be changes at the top at Comcast-Spectacor, as its longtime president suddenly leaves the arm of the company that manages sports stadiums.

READ MORE: Philadelphia Weather: How Much Snow Will Major Nor'easter Dump On Your Area?

The statement from Comcast-Spectacor indicates that the resignation of Peter Luukko — who also served as Flyers’ president — is immediate, as he decides that he “would like to monetize his interest in the company and pursue other entrepreneurial activities.”

Luukko spent more than 25 years at Comcast-Spectacor, working with chairman Ed Snider in overseeing day-to-day operations of all the company’s interests.

READ MORE: CBS3 Mysteries: What Happened To Celina Mays, 12 Years Old And Pregnant, 26 Years Ago?

Luukko’s sports management career began in 1981, when he became associated with the West Conshocken-based SMG, at the time owned in part by Snider.

In 1993, Luukko left SMG to become president of the Spectrum, and later was credited with helping Comcast-Spectacor become a nationally recognized leader in the facility management industry.

Dave Scott, a recently retired executive at Comcast Cable, will serve as acting president of Comcast-Spectacor.

MORE NEWS: Major Preparations Underway At Jersey Shore, Philadelphia Region Ahead Of Winter Storm