Invest Atlanta is searching for a new top executive after its CEO abruptly stepped down this week, just days after another high ranking official at the economic development agency was fired.
Neither Craig Richard, who took the helm of Invest Atlanta in late 2014, nor officials from Mayor Kasim Reed’s administration are commenting on the reasons for his departure, though multiple people with close ties to the organization told The Atlanta Journal-Constitution that Richard was asked to resign.
Richard submitted his resignation earlier this week, Reed’s administration confirmed in a statement on Wednesday. Reed is the chairman of the Invest Atlanta board of trustees.
It’s the second major staffing change at the agency in recent days. On Dec. 31, Invest Atlanta terminated its new chief financial officer after just three weeks on the job.
Richard hired that executive, Mitch Powell, who formerly worked for the Integral Group, a development firm led by Egbert Perry. Powell confirmed that he was terminated less than a month after starting at the agency on Dec. 8. He said Richard did not tell him why he was being let go.
“I asked point-blank if I had done or not done anything, or angered anyone, and he looked me straight in the eye and said: ‘This has absolutely nothing to do with anything you’ve done or not done,’” Powell said.
Eloisa Klementich, managing director of business development, will serve as interim president and CEO, according to the statement. She was one of three finalists vetted for the job won by Richard in 2014.
Invest Atlanta plays a critical role in attracting new businesses to the city while overseeing its economic development and revitalization programs.
Richard led the chamber of commerce in Louisville, Ky., before relocating with his family to Atlanta to succeed Brian McGowan. Richard’s past experience includes stints with economic development agencies in the greater Houston area and in metro Dallas.
Invest Atlanta became the first and only accredited economic development organization in Georgia under Richard’s tenure, and received multiple awards and recognition from the National Association of Local Housing Finance Agencies, Urban Land Institute, Center for Civic Innovation and the International Economic Development Council.
Richard also led the agency at a time it approved dozens of small businesses for financing, saw record job growth, bolstered the city’s affordable housing stock and worked to redevelop parts of the city’s troubled Westside.
“Craig Richard has served the city of Atlanta ably during his tenure at Invest Atlanta,” Reed said in a statement Wednesday. “Craig’s leadership played an important role in attracting and retaining businesses, and I thank him for his service. I wish him the best in his future endeavors.”
In the same statement, Richard said: “It has been a pleasure and an honor to work for Mayor Kasim Reed and the city of Atlanta. Under Mayor Reed’s leadership and vision, the city has experienced record economic growth. I am grateful to have been a member of the Reed administration.”
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