CEO Search, Government Funding Questions for U.S. Olympic Committee

USOC Chair Larry Probst and Acting CEO Stephanie Streeter meet with media after the USOC board meeting. (ATR/Panasonic:Lumix)CEO Search to Start, Communications Chief Coming Soon

The U.S. Olympic Committee will set in motion its search for a permanent CEO next month and expects to announce a new Chief Communications Officer by mid-October.

"We have consistently said we're going to initiate that (CEO search) in Q4, and we're going to live up to that commitment," USOC chair Larry Probst said after the quarterly meeting of the board of directors Thursday.

He said the USOC would start interviewing search firms in October to identify candidates. The interview process would likely begin by the end of the year and "moving along rapidly and productively."

He said the field of final candidates would typically be narrowed down to three or four.

Stephanie Streeter, who has been acting CEO since March when the board ousted Jim Scherr, is expected to be a candidate. She and her husband and twin toddlers have moved from Wisconsin to Colorado Springs, Colo.

Streeter, a former USOC board member who is guaranteed the CEO job through the Vancouver Olympics, said the uncertainty of going through what could amount to an audition doesn't bother her.

"I don't know any way to do things other than all in," she said. "I'm focused on doing the job to the best of my ability with everything I've got. I don't see it as anything other than that. The board asked me to step in to do the job in a certain way and I'm doing it."

Streeter's compensation package, which could top $1 million with bonuses, is worth much more than Scherr was making.

Probst said that in conjunction with the search process, the USOC will determine its compensation strategy for the CEO and the executive team. "We're going to engage some people from larger sophisticated companies who have a lot of experience in compensation to help with that discussion," he said.

As for the Chief Communications Officer, Streeter said she has been working with an executive search firm and has "gone through a lot of interviews" seeking a replacement for Darryl Seibel, who announced his resignation in early May.

The board of directors also discussed the nominating procedure for replacing Streeter on the board as an independent director.

Government Financial Support in Future for USOC?

The USOC prides itself on operating without direct funding from the government, money other NOCs take for granted.

Probst said that in assessing its vision for the future, "That's one of the things we will examine as part of a longer term strategic plan."

But he hastened to add, "Please don't interpret that we are seeking government funding. We have no plans to seek that at this point."

He said that there has been no pressure from anyone within the International Olympic Committee to ask for federal funding, and there have been no discussions on the topic with the White House.

The USOC USOC chair Larry Probst says USOC will explore government funding buthas "no plans to seek that at this point." (ATR/Panasonic:Lumix) gets a large chunk of its money from the controversial revenue sharing deal with the IOC.

"I've heard comments from certain IOC members along the lines of, 'What's the matter with you guys?'" Probst said. "I think the perception there might be that if there's a lot of government funding, there would be more for everyone in the Olympic Movement."

Sponsorships Tough in Sports World

Streeter said a number of sponsorship categories are still open, including several "that we're not far enough along to talk about who or what they are."

She said she recently had a conversation with representatives from the NFL and Major League Baseball "and both said, they're not having that much trouble with ticket sales, but where they are having trouble is with sponsorships. I think every sports entity in America is having some difficulty with sponsorships and it's still a very tough market."

She said when the USOC can talk to sponsors about new activation ideas using the value of the Olympic brand, "we're at least getting some traction, but it's still a very tough market."

Observations on the Job

Probst was hand-picked by former chairman Peter Ueberroth to be his replacement and assumed the role in October.

"It's complicated, more complicated than I would have imagined," Probst said. "There's lots of different moving parts, lots of history, lots of relationships that develop over time that you need to quickly understand."

He said the job is a lot of hard work, more time consuming than he expected and with a lot more travel.

"But it's also very interesting and gratifying work when you can do some good for the movement," he said, adding that "solving problems can be interesting work."

Both Probst and Streeter said"We're just focused on not putting pressure on certain performances anymore than the athletes put on themselves." - Stephanie Streeter, actingUSOC CEO, on 2010 medal counts. that announcing the U.S. Olympic Network in July after the IOC had expressly asked them not to do it was a mistake.

Streeter also said she "made the mistake of focusing internally too much at the beginning (of her tenure) and not necessarily reaching out to the NGBs and the (athletes' advisory council) as soon as I might have."

No Medal Predictions by USOC

After publicly stating goals for previous Olympic Games, the USOC has recently backed away from medal projections. The goal for Beijing was a clean team that represented its country with dignity and pride.

"What we're talking about very actively with the athletes and the NGBs is performance toward your potential, " Streeter said.

"We're just focused on not putting pressure on certain performances any more than the athletes put on themselves. It's not about a singular point in time; it's about reaching deep into yourself and performing to your utmost potential. That seems to be resonating with athletes more so than gold, silver or bronze or a Top 8 performance."

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Written by Karen Rosen.