MILWAUKEE (CBS 58) -- Milwaukee World Festival, Inc. announced the promotion of Sarah Pancheri to the role of President and CEO, effective Jan. 1, 2024. Pancheri, who has been serving as president since June 2022, succeeds Don Smiley, who has led MWF for 20 years.

The announcement was made during a MWF Board of Directors meeting Thursday, Dec. 7.

Pancheri's elevation follows her tenure as Chief Operating Officer and Vice President of Sales and Marketing at MWF. According to a Thursday press release, Pancheri's leadership was instrumental in achieving a record-setting season in 2023, where Henry Maier Festival Park hosted a notable increase in events and attracted over 1.2 million patrons.

"The experience of serving as president during an incredible 2023 season gives me great optimism for our future," said Pancheri.

The press release noted that Smiley joined MWF in June 2004, overseeing a transformative era, including significant privately financed improvements to Henry Maier Festival Park and the growth of Summerfest's reputation.

Smiley stated, "It has been an incredible honor to lead Milwaukee World Festival, Inc. for the last 20 years. I am so proud of what our team has accomplished."

Under Smiley's leadership, MWF hosting thousands of global artists and welcoming over 25 million patrons.