Stephanie Streeter (USOC)(ATR) The U.S. Olympic Committee's Acting CEO, Stephanie Streeter, is taking an even greater interest in the Colorado Springs real estate market. She will soon relocate to Colorado, the organization says, while unveiling a plan for installing a permanent CEO after the 2010 Vancouver Paralympics.
Whether Streeter will apply for the job remains to be seen, but the move from her home in Wisconsin -- as well as having at least a full year in the role by next March - could position her well. Streeter is married and has 18-month-old twins.
The USOC said in a statement that Streeter would continue as Acting CEO "at least through the 2010 Paralympic Winter Games and until the search is complete."
The USOC Board of Directors decided via a Friday conference call - which was not announced to the media -- to initiate a national search in the fourth quarter of this year. That means there should be no further disruption in the top USOC leadership before the IOC vote on Oct. 2 to determine the 2016 host city.
USOC Chair Larry Probst will appoint a subcommittee of the USOC Board of Directors to oversee the search, in cooperation with a national search firm. The full USOC board will then consider the final slate of candidates.
Streeter, a member of the Board, replaced Jim Scherr, who was forced out last month in a controversial turn of events. Leaders of the national governing bodies, alarmed that Streeter might ease into the role without anyone else being considered, urged Probst to launch a national search for the permanent CEO.
The USOC has not announced Streeter's salary as Acting CEO and she may still be in negotiations with Probst. Scherr was making about $560,000 a year in salary and benefits.
"We are extremely pleased with Stephanie's leadership of the organization," Probst said in a statement. "Stephanie stepped in during a challenging time for the USOC and has made an immediate and positive impact that is already strengthening our organization. She has the full authority to direct the day-to-day operations of the USOC and the full support of the Board of Directors in doing so."
One Obstacle Eliminated
A sticking point about Streeter taking on the CEO role was removed when the Board formally accepted her resignation.
The Nominating and Governance Committee will select an independent director to replace Streeter on the board. Olympic gymnast Jair Lynch is committee chair; he is joined by Ted Boehm, Julie Foudy and Wayne Osness.
The committee also will nominate the U.S. Olympic Assembly Liaison. The role was originally envisioned as a volunteer position, according to the Chicago Tribune, but former chairman Peter Ueberroth got board approval for it to be turned into a job paying Chris Duplanty about $200,000 a year over the past four years.
"The process actually started several months ago, but further clarification was needed on the position description," USOC spokesman Darryl Seibel tells Around the Rings. "The Board has provided that clarification and, with that, the next step in the process is for each of the three Councils (Athletes Advisory Council, National Governing Bodies Council and MultiSport Organizations Council) to bring forward their nominees to the Nominating and Governance Committee. From there, the Committee will make its selection."
Duplanty tells ATR that he is still on the job, although his term was up in February. He says he had not been told of theprocess for replacing him.
Duplanty also says he does not expect to seek another term.
"I've been happy to serve," he says.
Headquarters Still Up in the Air
If Streeter becomes permanent CEO, will she be uprooted again? The Denver Post says the "$53 million public-private partnership to keep the U.S. Olympic Committee based in Colorado Springs is in jeopardy, with the involved parties accused of everything from fraud to 'unsportsmanlike' conduct.
Other cities, including Chicago and Los Angeles, had tried to woo the USOC away from Colorado Springs, whose economy reaps more than $340 million a year from the Olympic organization, according to a study.
Seibel says the USOC is keeping a close eye on developments and had not changed its position that "things don't always go exactly according to script." He says there is a point where the USOC must ask, "Do we need to go in a different direction?" However, it has not yet reached that point.
Still, the city of Colorado Springs has not sold the municipal bonds it promised to help fund construction of the new headquarters, while LandCo Equity Partners, the developer, hasn't put up the $16 million it promised to upgrade the U.S. Olympic Training Center. In addition, the USOC has refused to sign the lease on the new headquarters.
LandCo has sued Colorado Springs and the USOC and the county district attorney is investigating financial dealings by LandCo chairman Ray Marshall.
Written by
Karen Rosen
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