JobsOhio Implements Leadership Transition Plan

COLUMBUS, Ohio, Oct. 2, 2012 /PRNewswire/ -- JobsOhio Board Chairman Jim Boland announced today that the organization and President and Interim Chief Investment Officer (CIO) Mark Kvamme are implementing the leadership transition plan developed during the formation of JobsOhio in 2011. Accordingly, Kvamme will resign from his management role and as a member of JobsOhio Board effective at the Board's November 1st quarterly meeting. Boland said the Board has chosen John Minor, one of JobsOhio's managing directors, to lead the organization as its new President and CIO.

"Ohio has been fortunate to access the talents of a man such as Mark Kvamme at a time when we needed them most," said Boland. "Mark's leadership of JobsOhio, his intimate understanding of what makes job-creators tick, and his ability to reach agreement on projects that both protect the interests of Ohio taxpayers and help companies succeed have set the gold standard for economic development success nationwide."

Kvamme, a former California-based venture capitalist, will continue to live and work in Ohio, pursuing private sector opportunities that support the economic development and job creation mission he began at JobsOhio. He initially served as Director of the Department of Development and later became the founding executive of JobsOhio. Kvamme's leadership helped launch JobsOhio and led to significant economic development gains for the state, including assisting more than 400 companies invest or expand in Ohio, that resulted in over 31,300 new job commitments and $6.1 billion in capital investment. Kvamme also oversaw the creation of a statewide network of economic development partners that have served as a force multiplier for job creation in Ohio.

"I am proud of the work our great team has accomplished, I'm proud to have been part of it, and I'm grateful for the confidence that Governor Kasich and the Board have shown in me with this opportunity," said Kvamme. "The world is waking up again to Ohio's potential, but more must be done and more will be done. I look forward to continuing to be part of that and to furthering the mission of JobsOhio in a different, but equally meaningful way."

Boland stated that after an extensive executive search, the Board determined John Minor is the best person to succeed Kvamme and lead the organization as its new President and CIO.

"We are fortunate to have someone of John's caliber take on this vitally important job. He's been a close partner with Mark at JobsOhio since day one," Boland stated. "John has Governor Kasich's confidence, knows what has made JobsOhio successful, has a deep understanding of the financial markets, and of business leaders' decision making process. He's committed to working with the Governor and the JobsOhio team to keep Ohio's recovery moving forward."

The Board's selection of Minor to succeed Kvamme provides for a seamless transition, said Boland, noting that Minor worked with Kvamme at the Department of Development and has played a key leadership role at JobsOhio since the organization's inception. In assuming the helm of JobsOhio, Minor brings 14 years of investment banking experience, having previously worked at Evercore Partners as a managing director and as senior vice president at both Barclays Capital and Lehman Brothers.

"Ohio's success over the past two years in creating new opportunities, new jobs and new prosperity for its communities is inspiring," said Minor. "I'm grateful for this opportunity, for the confidence of the governor and the Board, and I look forward to building on the great work that Mark, the JobsOhio team and the statewide network have begun. The bar is high and the expectations of a lot of people, including more than 11 million Ohioans, are great. It's an exciting time to take on this new opportunity and further our progress," said Minor.

JobsOhio is a nonprofit corporation focused on leading Ohio's job-creation efforts and increasing capital investment with an emphasis on strategic industry sectors. Established by Governor John Kasich and the state legislature, JobsOhio uses a private-sector approach, enabling it to be more nimble, responsive, and competitive in its efforts to create jobs and attract capital investment to Ohio.