Also today, the U.S. Olympic Committee Board of Directors appointed Stephanie Streeter, a member of the organization's Board of Directors and the former Chairman, President and CEO of Banta Corporation, as Interim Chief Executive Officer.

Streeter will begin her duties immediately and will work with Scherr during the transition in March.

"The U.S. Olympic Committee is a decidedly stronger and more effective organization today than it was six years ago, and that is due in large part to the leadership Jim Scherr has provided," said USOC Chairman Larry Probst .

"Jim guided our organization through a period of unprecedented challenge and change, and did so with an unwavering commitment to enabling America's athletes to succeed on the field of play. We are indebted to Jim for his outstanding service to the U.S. Olympic Movement, and wish him the very best for continued success.
"As we prepare now to meet a very different series of challenges and opportunities, we are extremely fortunate to draw upon the expertise and talent that Stephanie Streeter brings," added Probst. "Working from the strong foundation Jim has built, and with the dedicated staff at the USOC, Stephanie will make certain the organization is well-positioned to respond to the challenges that are immediately before us and enjoy continued success as we begin a new quadrennium."

Scherr first joined the USOC in November 2000 as Senior Managing Director for Sport Resources following a highly successful tenure as Executive Director of USA Wrestling from 1990-2000. In March 2003, he was asked to lead the day-to-day operations of the USOC as Interim Chief Executive Officer, and had the "interim" title removed in April 2005.
Highlights of Scherr's tenure as Chief Executive Officer include:
• The 2008 U.S. Olympic Team winning 110 medals and leading the overall medal count for the fourth consecutive time at the 2008 Beijing Olympic Games. The 110 medals are the most ever for Team USA in a full participation Olympic Games.
• The 2006 U.S. Olympic Team winning 25 medals and finishing second in the overall medal count for the second consecutive time at the 2006 Torino Olympic Winter Games. The 25 medals are the most ever for Team USA in an Olympic Winter Games outside the United States.
• In 2003-2004, guiding the organization through the most comprehensive reorganization of its governance and management structures in history, culminating with sweeping changes to the USOC Constitution and Bylaws and the appointment of a new, 11-person Board of Directors in May 2004.
• Doubling the amount of direct financial support provided by the USOC to America's Olympic and Paralympic hopefuls, along with an expansion of the high performance services offered by the USOC to athletes and coaches.
• Fiscal management that enabled the USOC to not draw upon a line of credit for the first time in at least two decades during the 2005-2008 quadrennium.
• A renewed commitment to International Relations through increased engagement and partnership with the international sport community.
• A commitment to drug-free competition that enabled the USOC and the United States Anti-Doping Agency to make significant strides in the fight against doping in sport, including the creation of the Partnership for Clean Competition.

"It has been an honor to serve the USOC in this capacity and to lead such a talented team that believes deeply in the mission of the organization," said Scherr. "Working together, we have accomplished things that may have seemed impossible six years ago. And in so doing, we have ensured that the future remains equally bright for the next generation of Olympic and Paralympic hopefuls, as well as young people whose lives will be bettered by the opportunity to participate in sport.

"As I depart the organization, I do so with gratitude for this opportunity, and I remain committed to doing all I can in support of America's athletes, the National Governing Bodies and the USOC."

Streeter brings a wealth of executive leadership and business management experience to the USOC. As Chairman, President and CEO of Banta Corporation, she led an organization with more than 8,000 employees worldwide and $1.6 billion in annual revenue.

Streeter joined Banta in January 2001 as President and Chief Operating Officer, and was named CEO in October 2002 and Chairman in April 2004. During her tenure, Banta had industry leading financial performance and the stock price more than doubled. She successfully guided Banta through its acquisition by RR Donnelley, which was completed in January 2007.

Previously, Streeter was Group Vice President for Worldwide Office Products at Avery Dennison, where she led a team of 6,500 employees with 41 operations in 27 countries. She was also COO for idealab, an internet incubator and holding company. Prior to joining Avery Dennison, Streeter held management positions with Decision Data Computer Corporation and Xerox Corporation.

An accomplished athlete, Streeter was a four year starter on the Stanford University women's basketball team and captain her junior and senior seasons. She graduated from Stanford University in 1979 with a bachelor's degree in political science.

Streeter, 51, was named to the USOC Board of Directors in May 2004. She is also a member of the Board of Directors of Chicago 2016, the Green Bay Packers, Goodyear, Kohl's Corporation and Catalyst, the leading professional women's research and advisory organization.

"As a member of the Board of Directors, I have had the opportunity to work with our talented staff and admire the passion and commitment they bring to the organization," said Streeter. "As the USOC begins a new chapter in its history, I look forward to working with our team to build upon the tremendous momentum and success Jim helped establish during the past six years."