Two days after announcing budget cuts and impending layoffs caused by an increasingly challenging economic climate, U.S. Olympic Committee chief executive Jim Scherr resigned Thursday by what was called “mutual” agreement with the board.
Scherr was an Olympic wrestler and later became head of USA Wrestling. He will be replaced on an interim basis by USOC board member Stephanie Streeter, a former college basketball player with extensive business experience.
Not having that kind of background may have been what ended Scherr’s tenure.
“From the time that Jim first took over the organization six years ago, many things have changed,” said USOC chairman Larry Probst. “There is a new set of challenges and opportunities, and sometimes that requires a new and different set of skills.”
A four-year starter at Stanford, Streeter formerly served as CEO of the Banta Corporation and sits on several boards, including Goodyear and the Green Bay Packers.
“Just like athletes have a code where they can communicate easily on the field of play, CEOs have the same kind of ability to communicate quickly and efficiently, get on the same page and work to create solutions where there is the kind of economic turmoil that we have now,” said Streeter, 51. “With our sponsors, with our broadcast partners, with the NGBs, etcetera, I think we can attack some of these issues in a different way that is efficient and effective and move forward more quickly.”
Scherr became CEO as part of a painful reorganization and is widely credited with bringing stability after a period of near crisis.
“As I depart the organization,” Scherr said, “I do so with gratitude for this opportunity, and I remain committed to doing all I can in support of America’s athletes, the National Governing Bodies and the USOC.”
John Meyer: 303-954-1616 or jmeyer@denverpost.com
