 Stein had been sole owner of the organization until 1954, when he voluntarily distributed 53 percent of his interest to key executives and employees, with 10 percent of the stock placed in an innovative MCA profit-sharing trust.Stein served as president of MCA until 1946, when he named Lew Wasserman as his successor as chief executive.He continued as chairman of the board until 1973 and remained a director thereafter.