Vancouver 2010 financial chief resigns

The architect of the business plan for the 2010 Vancouver Winter Olympics is moving on after only 20 months in the job.

VANCOUVER, British Columbia — The architect of the business plan for the 2010 Vancouver Winter Olympics is moving on after only 20 months in the job.
    Rex McLennan was hired in November 2005 as the chief financial officer for the Vancouver Olympic Organizing Committee.
    But with his chief task accomplished — the formulation of the 2010 Games' business plan — he's returning to the mining industry, where he had worked as a CFO at Placer Dome before joining the committee.
    John Furlong, the committee's chief executive officer, said McLennan's decision to leave was mutual.
    ''I think it's fair to say that he feels and we feel that he's completed that mandate. He's done a super job on it and I think he feels it's a good time to leave and we think it is too,'' Furlong said.
    The committee's business plan was released last month and showed the 2010 Games will set records for the amount of money it will spend and the amount of revenue it will take in. The project remains on budget and on time, the document said, and could even return a surplus.
    John McLaughlin, who had helped create the financial plan when Vancouver bid for the Games, will take over as CFO.