Stephen Moret, president and CEO of the Louisiana State University Foundation, has been elected to serve in the same roles at the Virginia Economic Development Partnership beginning Jan. 1, Virginia Business reported Monday.
Paula Squires writes VEDP’s board of directors approved Moret’s appointment in a 15-to-one vote after he was chosen from a pool of six finalists.
“Having met with Stephen, I agree with the board that his executive management experience in both public and private sector economic development roles make him the right choice to lead VEDP at this critical time for the organization, ” stated Virginia Gov. Terry McAuliffe.
McAuliffe said Moret will help boost management in VEDP and support efforts to update the organization’s structure and oversight to address findings from the Joint Legislative Audit and Review Commission’s report, Richmond Times-Dispatch reported.
The JLARC report found that Virginia is at risk of fraud and wasted money due to the lack of policy and procedures that govern VEDP’s issuance of financial incentives to economic development prospects, Michael Martz wrote.
Moret previously served as secretary of the Louisiana Economic Development, president and CEO of the Baton Rouge Area Chamber of Commerce and associate at McKinsey & Co.
He also worked as public policy fellow at the Public Affairs Research Council of Louisiana, assistant chancellor at LSU and project supervisor at Trinity Consultants.