Urban Child Institute loses second CFo since January
Urban Child Institute president Henry Herrod has resigned, according to staff.
Herrod, who resigned on Friday took the helm of the institute when its original CEO, Eugene Cashman, resigned in January.
Board member and Le Bonheur Children’s Hospital president Meri Armour has stepped in as interim president, board chairman Jill Crocker said. Interim scientific director Dan Goldowitz said Herrod’s resignation is part of a “major effort by the board to retrench themselves.”
“When you look at our bylaws and charter, the Urban Child Institute was set up for the purpose of supporting three organizations: Le Bonheur, University of Tennessee Health Science Center, and the University of Memphis,” Crocker said.
Before Herrod became institute director, he served as secretary. According to a 2013 form 990 tax document, the most recent available, in that role he earned $403,691 in “reportable compensation from the organization” and an additional $25,161 “from the organization and related organizations.”
Cashman earned $605,209 from the organization and an additional $24,424 from the organization and other organizations, according to the same 2013 tax document.
Crocker said the board is searching for a new CEO whose salary will come at a lower price point. They hope to finalize the president and other staffing positions by June 30, she said.
“We think we can work with someone that has good credentials and knows the community but maybe at a price point that would make us more efficient with cost control,” she said.
Herrod did not responded to requests for comment from The Commercial Appeal.