Thursday, May 17, 2012

$75,000 Severance Confirmed By NEDC Chair

Cudahy Settlement Finalized

The Chair of the Nanaimo Economic Development Corporation today said that the Corporation’s settlement with former CEO Susan Cudahy totals $75,000.

The amount includes 4 months salary plus moving and other expenses.

“This matter is now closed,” says A. J. Hustins. “Until the final legal steps were completed today we were unable to disclose the terms of the settlement.

“We have now done so, and these terms are based on provincial employment laws and practices, to which we are required to comply.”

Hustins says that the executive search firm that recruited Cudahy last year is starting a new search, “at no charge to the Corporation.”

He adds that the Board will “take whatever time we need” to find the best candidate to move NEDC forward.

“In the meantime, we have a strong foundation in place with a capable and committed staff,” says Hustins. “As well, our volunteer Board members are keen to get on with the work we all signed up for, and that is to bring economic opportunity and investment to Nanaimo.”
Hustins appreciates the support provided for NEDC by the Chamber of Commerce and the Downtown Business Improvement Association.

He adds that NEDC will provide Quarterly progress reports to City Council and the public. He encourages residents to come forward with ideas they may have that will help attract new businesses to the region.

The Nanaimo Economic Development Corporation is charged with marketing Nanaimo as the place to visit, invest and do business.


1 comment:

  1. i would like to apply for this position and i am sure i can b.s. my way through it for over a year and get an even bigger severance these morons in office think they can continue to squander our tax money on assinine projects and ventures without repercussion. wake up Nanaimo and look at the record of incompetence this council is so adept at!


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