From The San Francisco Standard · · 1m 20s
Lurie nonprofit CEO exits after one year
San Francisco's downtown development nonprofit CEO Shola Olatoye leaves after 11 months.
In brief
San Francisco's downtown development nonprofit CEO Shola Olatoye leaves after 11 months. Shola Olatoye, CEO of San Francisco Downtown Development Corporation, resigned after little more than a year. Originally reported by The San Francisco Standard.
Lurie nonprofit CEO exits
Shola Olatoye, a longtime housing executive, left San Francisco Downtown Development Corporation after little more than a year.
No reason given for departure
The organization provided no explanation for Olatoye's abrupt exit, which occurred just over a year after she started.
Interim CEO appointed
TJ Wenzel, the organization's managing director of capital initiatives, will serve as interim CEO while they search for a permanent replacement.
Rebecca Foster takes over role
Rebecca Foster, the founding CEO of San Francisco Housing Accelerator Fund, will become Olatoye's new vice chair of the DDC board.
DDC's mission and funding
The DDC, founded in 2025, channels private dollars into public projects like Powell Street and Embarcadero improvements, having pledged $70 million so far.
Olatoye's background
Olatoye previously worked as CEO and chair of New York City Housing Authority before moving to Oakland and Eden Housing.
Olatoye's plans for DDC
Olatoye had planned to announce recipients of the Downtown Business Fund, which will provide $25 million to ground-floor retailers downtown.
The one thing
Shola Olatoye, CEO of San Francisco Downtown Development Corporation, resigned after little more than a year.
