By Claire Piech
VANOC’s Chief Financial Officer, Rex McLennan, resigned Wednesday to return to his earlier career in the mining industry.
“I have greatly enjoyed working with the VANOC team and am very proud of our many accomplishments. I have complete confidence in their continued success,” McLennan said in a release.
The reason for McLennan’s departure is not known.
McLennan began working with VANOC in November 2005 and was responsible for managing the organization’s finance, risk management, project scheduling, procurement and administrative functions. He was recruited with the primary objective of developing VANOC’s business plan and risk management framework, which were completed earlier this year and made public in May.
John McLaughlin has been chosen to fill McLennan’s position as CFO.
McLaughlin has previously worked as chief architect of the 2010 Bid Corporation’s financial plan and was named VANOC’s Vice President/Comptroller in 2004.
The changes were approved by the VANOC board of directors earlier this week and are effective immediately. However, McLennan will remain available to the organization to ensure a smooth transition.
“On behalf of our team, I would like to thank Rex for his contributions to our success and wish him well,” said John Furlong, VANOC’s Chief Executive Officer.
“VANOC is in great financial shape with a strong team, including a Finance and Administration group that, under John McLaughlin’s leadership, will deliver disciplined and successful financial management of the Games,” said Furlong.