USOC to tap new CEO; Streeter not a candidate

The USOC said it would hire a national recruiting firm by the end of the month to identify candidates, but acting CEO Stephanie Streeter had notified the board she would not be a candidate. She will remain CEO until the search is completed.

Streeter cited a desire to return to the corporate world for her decision, which will result in the USOC's sixth CEO over the last decade.

On Friday, Chicago, considered a favorite to host the 2016 Games along with Rio de Janeiro, was eliminated in the first round of voting by the International Olympic Committee despite lobbying by President Barack Obama and his wife Michelle.

Rio ended up beating out Madrid and Tokyo, but several IOC delegates, Chicago bid executives and analysts blamed missteps by the USOC for the loss. Some called for Streeter and other top USOC officials to step down after the loss.

“We need to have a very long-term strategy in engaging ... the International Olympic Committee,” USOC Chairman Larry Probst said on a conference call on Wednesday. “I'm talking 10, 15, 20 years.

“We have plenty of good relationships, but the reality is we don't have political capital, we don't have leverage, we don't have representation on the executive committee of the IOC,” he added.

Probst expects to identify finalists over the next few months and hire the new CEO by the end of March. The candidate resume will include a background in sports, the ability to make a long-term commitment, willingness for heavy international travel and the ability to speak multiple languages, he said.

Streeter said her decision was made before the IOC vote on Friday, and Probst said he had no plans to resign, saying that was the board's decision to make.

But that was not enough for leaders of the group that oversees U.S. Olympic sports organizations, who called late Wednesday for the immediate resignation of Probst and Streeter.

The U.S. National Governing Bodies said “the U.S. Olympic family has tried faithfully to muffle its deep concerns about the decisions and strategies made by the U.S. Olympic Committee Board of Directors, but we can no longer stand by and watch.”

Streeter stepped down from the USOC board after she was named interim CEO in March following Jim Scherr's unexpected resignation. Before that, Streeter had been CEO for several years at Banta Corp, a US$1.6 billion printing and supply-management company.

Streeter was credited with exceeding USOC budget revenue by 10 percent by extending or signing new deals with corporate sponsors, while also cutting expenses by 17 percent during the recession. That resulted in more money for winter athletes and sports organizations.

However, critics said Streeter and other top USOC officials failed to build relations with IOC delegates, a critical factor in Chicago's failure Friday.

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