Arizona Commerce Authority board may pick new CEO

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.