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Business News

Arizona Commerce Authority board may pick new CEO

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Published: Tuesday, 16 Oct 2012 | 11:00 AM ET

PHOENIX -- Arizona's economic development organization may finally get a new CEO.

The Arizona Commerce Authority board's agenda for a closed execution session during its meeting Tuesday includes an update on the search for a new CEO. The agenda for the meeting's public portion includes discussion and possible action on selecting a new CEO.

The quasi-private authority gets $35 million of state funding annually, including $25 million for grants to help attract, expand or retain businesses.

The authority took over economic development functions from the now-disbanded state Department of Commerce.

It has lacked a permanent CEO since July. Don Cardon announced in January that he would resign and return to running his businesses.

Sandra Watson is interim CEO and president.

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The Arizona Commerce Authority board's agenda for a closed execution session during its meeting Tuesday includes an update on the search for a new CEO. The quasi-private authority gets $35 million of state funding annually, including $25 million for grants to help attract, expand or retain businesses.

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