Former state Sen. Glen Taylor — better known as the owner of the Minnesota Timberwolves — has taken over the role of CEO of Taylor Corp., which he founded.

His daughter, Jean Taylor, had been named CEO in 2007 but resigned Monday for personal reasons.

In a statement Wednesday, Taylor said:

“Both Jean and I are saddened by the decision especially given the strategic vision and leadership she has provided to the organization for the past three years as CEO as well as her many accomplishments during her roles as President, Executive Vice President and Vice President.

“This organization will greatly miss Jean’s leadership, friendship and passion as well as her vision for evolving Taylor into a communications, marketing and interactive company with a strong focus on the customer. I am deeply grateful for the many great talents and gifts she has given to Taylor and its employees during her 16-year tenure.”

Taylor also said: “I look forward to working more closely with the organization again, continuing to define it with our core purpose and values.”

The company's website says Taylor Corp., which has printing and electronics businesses, employs more than 9,000 workers in 21 states and several countries.

Glen Taylor is ranked 437th on the Forbes billionaires list with $2.2 billion in assets.