PHILADELPHIA: Lantern Theater Company has named Stacy Maria Dutton as its first executive director, effective immediately. In partnership with cofounder and artistic director Charles McMahon, Dutton will oversee the company’s administration, with a focus on development.

“I cannot think of a more exciting time to transition from serving as an independent director to working on the staff of Lantern Theater Company,” said Dutton in a statement. “The Lantern has grown tremendously in the past several years. With an annual season of five full productions and an operating budget of $1.3 million, the Lantern has emerged as a leader in the Philadelphia theatre community.”

Dutton previously served as president of the company’s board of directors and will continue to serve as an ex-officio director. Prior to her work in not-for-profit organizations, she worked in investment management. She completed the Designing Leadership program of the Arts & Business Council of Greater Philadelphia and the Intensive Board Development Program for Not-for-Profit Arts Organizations at the DeVos Institute of Arts Management at the Kennedy Center in Washington, D.C. She was recognized by the Arts & Business Council of Greater Philadelphia as the 2011 Business on Board Member of the Year.