USOC’s Jim Scherr steps down as chief executive

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Two days after announcing budget cuts, Jim Scherr stepped down unexpectedly today as chief executive of the U.S. Olympic Committee.

Scherr’s last day is March 31. Replacing him on an interim basis is Stephanie Streeter, a member of the USOC Board of Directors.

On Tuesday, Scherr said the USOC would trim up to 15% of its staff as part of an effort to cut $7.1 million from next year’s budget because of the faltering economy. Yet, during the news conference that day, he gave no hint that he would be leaving.

Scherr first took the CEO reins on an acting basis in March 2003. Two years later, he was named chief executive and helped the USOC streamline a bulky governing structure and repair the damage done by the Salt Lake City Olympics bid scandal. He also served as executive director of USA Wrestling for 10 years.

The timing is odd, since the USOC is moving into the final stages of helping with the bid to bring the 2016 Olympics to Chicago.

‘Jim guided our organization through a period of unprecedented challenge and change, and did so with an unwavering commitment to enabling America’s athletes to succeed on the field of play,’ USOC chairman Larry Probst said in a statement.

-- Debbie Goffa