The Board of Directors has voted unanimously to release Chamber President and CEO John Schmitt from his duties. Schmitt served in the leadership role for three years.
The board and Schmitt could not come to an agreement on compensation and chose to “part ways,” according to an e-mail sent to Chamber members Thursday morning.
The vote was made during a special meeting on Wednesday.
In the e-mail Shane Beard, the Naperville Area Chamber of Commerce’s chairman of the board said the Chamber is similar to other businesses that are reviewing the cost of benefits, pension funding and working to balance budgets. He said that though the Chamber is financially stable, it is challenged with budgetary issues and increasing costs.
“The Chamber Board of Directors and John could not find common ground on the required steps the Chamber needed to take to move forward and therefore we are choosing to part ways, we believe it is in the best interest of both parties,” Beard said in the e-mail.
The vote to release Schmitt was unanimous, according to Beard’s e-mail.
Day-to-day operations will be undertaken by Tami Andrew, the Chamber’s vice president, operations and member services. Beard and the Chamber’s executive committee will oversee Chamber business.
Beard said in the e-mail that an interim president and CEO would be named soon as the Chamber begins the search for a permanent replacement.