Ed Wolverton out at Downtown Greensboro, Inc.

This just came in. Read the full press release below:

Downtown Greensboro Charts New Direction to Encourage Growth

GREENSBORO, NC – Dawn S. Chaney, Chair of the Board of Directors of Downtown Greensboro, Inc., announced today the decision that Ed Wolverton, currently serving as DGI President, will depart from employment at DGI on an amicable basis at the end of his contract term, July 1, 2013.  Subsequently, he will assist the organization for a 90-day transition period by focusing attention on special initiatives, year-end reports, mandatory fillings, annual meeting and other projects as needed during a transition phase expected to be 90 days.
    This action comes after recent discussions about the need for enhanced economic development efforts and increased programming for Downtown.  A six-member task force made up of leaders from both the City and DGI was created to explore new directions and responsibilities in an enhanced collaboration.
    “For the task force to have complete freedom to consider all alternatives and options moving forward, I will not seek an extension of my current employment contract,” said Wolverton.  “As Downtown is a leading economic engine for the community with a value of over $700 million, this decision will allow the task force to recommend any steps that could further grow the local economy or improve services for the center city,” he said.
    Wolverton thanked Board members, volunteers, City officials and staff for their leadership during the past five years; he pledged to help the organization move forward.  He remains optimistic about the future of Downtown and noted that over $200 million of new projects are in the pipeline.
    Chaney noted that, “Ed’s accomplishments, especially with regard to improving the overall environment downtown and his dedication to the vitality of Downtown and to DGI are sincerely appreciated.”
    “At this critical juncture, the DGI Board is ready to move forward in a new direction,” continued Chaney.  “Our emphasis as an organization will change from one of maintaining and managing the downtown environment towards becoming a major force in growing our Downtown.  We intend to restructure our Board, action groups and volunteer advisors in order for DGI, working in collaboration with the City, to be a catalyst and lead agent for growth, job creation and economic prosperity.”
    In partnership with the City Council, entrepreneurs, investors, and civic leaders, DGI has attracted over $260 million in new investment in the past five years.  “With persistence and hard work, the vitality of Downtown has been increased by the addition of a long-sought full-service grocery store, a veterinary practice, medical services, attractive residential space and expanding retail to complement the traditional downtown office population,” said Sam Simpson, incoming board chair.   “We are moving in a new direction with added responsibilities.  In doing so we are re-thinking all areas of our organization – leadership, board, and committees.”