USOC CEO Scherr Leaves The Podium

March 5, 2009: The United States Olympic Committee said that CEO Jim Scherr would resign from his position, effective March 31. Stephanie Streeter, a member of the organization's board of directors and the former chairman, president and CEO of Banta Corp., was was named interim CEO. The move comes two months after Lisa Baird was named CMO replacing Rick Burton and days after the USOC said it would will reduce its 2009 budget by about 5% with part of the savings coming from personnel reductions of 10-15%. Scherr was closely involved with the Chicago Olympic 2016 Committee in trying to bring the Games that year to the U.S. The International Olympic Committee will select from among four cities in October, which also includes Madrid, Rio de Janeiro and Tokyo. Three major USOC sponsors recently decided not to renew their sponsorship deals: The Home Depot, General Motors and Kellogg. The USOC has ongoing endorsement deals with 17 other companies and is negotiating renewals with two more. Scherr joined the USOC in November 2000 as senior managing director for Sport Resources following his tenure as executive director of USA Wrestling from 1990-2000. He was named interim CEO in March 2003 and was officially named CEO in April 2005. Streeter will begin her duties immediately and will work with Scherr during the transition in March. "The U.S. Olympic Committee is a decidedly stronger and more effective organization today than it was six years ago, and that is due in large part to the leadership Jim Scherr has provided," USOC Chairman Larry Probst said in a statement. Back to Home Page