PIDC senior executive Sam Rhoads to serve as interim president of PIDC and PIDC Community Capital
Rhoades, currently PIDC executive vice president, will serve as interim PIDC President until the organization finds a permanent replacement.
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Philly economic business corporation, PIDC has recently seen some permanent changes in the last week.
The company stated earlier this year that long-time senior leader and president of PIDC Anne Bovaird Nevins will be leaving this December after 16 years with the organization.
However, PIDC said that Senior Executive, Sam Rhoads will take over until they find a permanent president in early 2023.
“I’m very pleased to have Sam serve as our interim president while the PIDC selection committee finalizes the process to identify and onboard a new permanent president,” said Sal Patti, senior vice president at WSFS Bank, chair of the PIDC Board of Directors, and head of the Board’s selection committee. “As a longtime PIDC senior executive who has broad experience across all aspects of the organization, he will continue PIDC’s important work in growing a global economy in Philadelphia through inclusive economic development during this transitional period.”
Rhoads has been a part of PIDC since 1995, which means he is well trusted in the company. His occupation is to oversee delivery while also supervising real estate, and business support services as executive vice president.
While working for PIDC, Rhoads also created PIDC’s Community Development Financial Institution (CDFI). He also launched the EB-5 program that became nationally recognized as a model for investing foreign capital into infrastructure and job-creating development strategies.
“I’m thrilled to have the opportunity to lead PIDC as interim president,” said Rhoads. “I look forward to continuing the amazing work of the PIDC team throughout the leadership transition period and ensuring that the organization is well-positioned to seamlessly onboard a new president in the new year.”
Rhoads also said that he is excited to see what the future holds for his temporary title.
“It has been the greatest opportunity of my career to advance the work and mission of PIDC in driving growth to every corner of Philadelphia, and I welcome the opportunity to serve in this interim capacity.”