COLUMBUS: The California venture capitalist hired by Gov. John Kasich for a dollar to help jump-start Ohio’s job- creation efforts is leaving his state management job and returning to the private sector.
Mark Kvamme will resign as president and interim chief investment officer of JobsOhio effective Nov. 1, board Chairman Jim Boland announced Tuesday.
Boland said the board has chosen John Minor, one of the organization’s managing directors, as Kvamme’s replacement.
“Ohio has been fortunate to access the talents of a man such as Mark Kvamme at the time when we needed them most,” Boland said in a statement. “Mark’s leadership of JobsOhio, his intimate understanding of what makes job-creators tick, and his ability to reach agreement on projects that both protect the interests of Ohio taxpayers and help companies succeed have set the gold standard for economic success nationwide.”
Boland said Kvamme will continue to live and work in Ohio “pursuing private sector opportunities that support the economic development and job creation mission he began at JobsOhio.”
Kvamme’s resignation came just two business days after the Ohio Supreme Court tossed a complaint the state had hoped would resolve constitutional questions surrounding JobsOhio and clear the way for the transfer of state liquor rights to JobsOhio in a deal worth an estimated $1.4 billion.
The ongoing lawsuit challenging the legal rights of a nonprofit corporation to control tax dollars was just one of the hurdles Kvamme encountered in his state roles over the past two years.