Choose Chicago COO Marc Anderson leaving tourism bureau chicagobusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chicagobusiness.com Daily Mail and Mail on Sunday newspapers.
Wendella Tours & Cruises suffered a 75 percent hit to its annual revenue last year.
Chicago s tourism industry is desperate for visitors. But the group meant to lead the charge to bring them back is dealing with its own pandemic-induced distress.
As the city prepares for a summer that s expected to unleash pent-up demand from leisure travelers, Choose Chicago is operating as a shell of its former self: The normal $30 million-plus annual budget for the city s nonprofit tourism arm which relies heavily on COVID-19-drained hotel tax proceeds has been slashed to just under $16 million. A wave of layoffs early in the pandemic has left it with less than half of the 81 staff members it had before the crisis, all of whom are still furloughed one day per week. And if that weren t shaky enough ground, the group s chief operating officer just announced he is leaving next month and its board of directors disclosed this month that it won t renew CEO David Whitaker s contract when it expires in
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By Renee CORDES
David Whitaker is president of Foreside Financial Group LLC, a Portland-based provider of customized compliance and technology solutions whose clients include global asset managers, wealth managers, private equity firms and hedge funds. Mainebiz caught up with him to find out more about what the firm does and its acquisition strategy.
Mainebiz: When it comes to compliance, what are the most common mistakes companies make?
David Whitaker: One common mistake we see is individuals at firms wearing too many hats performing more than one function and attempting to balance multiple roles and responsibilities. From a compliance standpoint, this heightens the risk of potential regulatory issues. A firm’s lack of attention to compliance is also a red flag for the state and federal regulators. As the regulatory landscape changes and becomes more sophisticated, firms should consider hiring dedicated compliance professionals or prioritize outsourcing these f
Sun-Times file photo
Choose Chicago, the city’s tourism promoter, said Wednesday it is not renewing the contract of its president and CEO, David Whitaker.
Whitaker’s five-year agreement expires July 6, the group said. It said the decision to not renew the contract was mutual.
“Given his leadership and accomplishments over the last five years, the Executive Committee asked David to remain through the full period of the agreement, and David has agreed to stay through his full term,” said Cynthia McCafferty, a spokeswoman for the group. “During this time, David will continue to work with the Choose Chicago senior leadership team in advancing and implementing the 2021 Strategic Plan and ensuring a smooth and seamless transition.”