An Oakland nonprofit housing developer has lost both its CEO and COO in less than three weeks. The organization's vice chair responds.
The East Bay Asian Local Development Corp. has been operating without permanent C-suite leadership since the beginning of February, when CEO Andy Madeira was forced out and COO Karim Sultan resigned in protest.EBALDC, also has been without a CFO since last spring.
The nonprofit oversees roughly 2,300 affordable units in and around Oakland, according to its website, and its portfolio is growing. It was recently awarded funding for The Phoenix, a 52-unit project in West Oakland, and snagged city approval for a 91-unit project near Oakland’s Lake Merritt. EBALDC has tapped Sean Sullivan, who served as chair until the beginning of this year, to serve as acting CEO in the wake of Madeira’s departure; Sullivan will remain on for three months, until the nonprofit finds a suitable interim candidate, he said in an interview Feb. 16.
In his first few weeks on the job, Sullivan has set out to visit each of EBALDC’s properties and is seeking to keep things moving smoothly, he said. Asked about the executive vacancies, he emphasized the importance of the organization’s staff.
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