USOC seeks new CEO

The Board of Directors of the United States Olympic Committee (USOC) announced today that it is in need of a new CEO. In a press release issued this morning, the organization announced that it would be utilizing a “a nationally recognized and respected recruiting firm by the end of October 2009 to assist in identifying candidates for the position. Acting CEO Stephanie Streeter has let the organization know that she will not be one of the candidates though she will stay on until a replacement has been hired. Streeter was the held the position for seven months.  

“When we asked Stephanie to serve as Acting Chief Executive Officer in March, we did so knowing of her strong management skills and mindful that the USOC was at a critical juncture in many ways – facing the economic crisis, preparing for the Vancouver 2010 Games, and supporting Chicago in its bid to host the 2016 Games,” said USOC Chairman Larry Probst. “She graciously agreed to take on the challenge and has been an outstanding chief executive.
We were disappointed when Stephanie told us she did not want to be considered for the permanent CEO position. She has done an excellent job, and we are all very grateful for her many contributions to the U.S. Olympic Movement.”
 
“I’ve enjoyed my tenure as Acting CEO, and I’m proud of everything my team and I were able to accomplish,” said Streeter. “But now is the right time for me to explore new opportunities in the corporate sector where I’ve spent my entire career. I’m grateful for the opportunity I had and the support I received from the Board, staff and athletes. I firmly believe that together we’ve put the USOC in a strong financial and operating position for the future.”


The announcement comes on the heels of the country’s lose of an Olympic bid for the 2016 Summer Games, which the USOC had hoped to host in Chicago. The Windy City advanced to the final four candidates but was voted out in the first round before Rio De Janeiro, Brazil eventually secured the event.  

“With the decision now made regarding the Chicago bid, it is time for the USOC to focus its full effort on our athletes’ preparation for Vancouver, and the organization’s long-term strategy, as well as shaping the USOC’s relationships with its stakeholders and the international community,” said Streeter. “Knowing that I am focused on returning to the corporate arena, I thought now was the ideal time to let the USOC know of my future plans and allow them to start with a clean slate.”

According to the release, during Streeter’s tenure as CEO the organization “exceeded budgeted revenues by 10 percent while reducing expenses by 17 percent.” She was also instrumental in securing renewed sponsorships with partners like Adecco and Polo Ralph Lauren, while adding Deloitte and Procter&Gamble as new sponsors.

USOC Board member, Bob Bowlsby, will chair the three-member search committee made up of USOC Board of Directors. The committee will recommend up to three finalists and the USOC Board of Directors will choose the permanent CEO from among those finalists.