Fantasma Productions president Jon Stoll is recovering in a Colorado hospital after having a blood clot removed from his brain late last week. The West Palm Beach, Fla.-based concert promoter is currently in stable but serious condition.

Stoll, who was vacationing in Aspen, Colo., prior to the surgery, is expected to remain in the hospital for up to three weeks, to be followed by further rehabilitation. In his absence, Fantasma will be managed by executive VP John Valentino and comptroller Kathy Bohan.

"We are committed to running the firm, on an interim basis, in the same way Jon has," Valentino said in a statement. "We intend to move forward with the prior commitments Jon and I have made, and we will also be thoughtful and opportunistic with regard to future bookings and commitments."