Miller empire in familial hands - Greg Miller takes over as executive

SALT LAKE CITY — For years, Greg Miller was groomed by his dad to take over the family, a responsibility he understood and willingly accepted. Now, one year after the passing of his iconic father, Larry H. Miller's eldest son is quite comfortable in his role as the top executive of one of Utah's foremost business empires.

Last February, Larry Miller succumbed to complications from Type 2 diabetes. He was 64.

He left behind a legacy of business success and community involvement and was admired by many. On the business side, the Larry H. Miller Group of Companies is composed of 80 to 90 individual enterprises that include car dealerships, a pro basketball team, movie theaters, restaurants, a racetrack, retail stores and various other holdings.

From a business perspective, taking the reins of any successful venture would generally be considered a daunting task to almost anyone. Taking over for a beloved business and community leader would seem to add even a little more pressure.

But Greg Miller knows his role and is more than prepared to take it on. While his father was more inclined to be involved in virtually every single aspect of all the businesses, he chooses to delegate authority.

"My style is much more collaborative," he told the Deseret News. "I'm willing to involve my executive managers more … and the load is spread over a much broader footing than it was previously."

Miller said that approach has helped him make a smoother transition since he took over as chief executive officer in June 2008. Also helping: operating expenses have been streamlined, creating more cost efficiencies and greatly reduced overhead costs across the companies.

"We've done a better job managing our inventories, particularly our new car inventory," he said. "We've reduced that by 40 percent."

Miller said those kinds of cost-saving measures have helped the LHM group remain profitable despite recent economic challenges.

"Fortunately, we're doing very well," he said. "My dad left the organization very well capitalized (and) very well positioned economically.

"With the combination of our expense reductions and our (collective efforts) to keep our house in order, we've been able to remain profitable."

Miller said revenues have declined due to the recession, but "we're still making money every month and we're still servicing our debt."