Seven Board Members Resign; Terminate Executive Director –

In August, the governmental directors began publicly expressing concerns about the organization’s direction and activities. This culminated in the governmental directors removing the LEDP’s regular quarterly funding from the Village’s payment schedule. The Village Board ultimately voted to restore funding.

In the intervening time, the private board members and the executive director have tried to address the issues raised by the governmental representatives. This has challenged the organization’s ability to move forward with its growth and implementation of economic development initiatives. Accordingly, it is the private directors’ opinion that the LEDP cannot effectively represent the needs of the Lisle business community nor can it meet its organizational objectives to foster economic growth and stability.

In recognition of that impasse, today the LEDP Board has voted to terminate Executive Director Cole from her employment contract, without cause, with the LEDP effective November 26th. Moreover, all seven of the private board directors have chosen to resign from their position on the LEDP Board and Executive Committee with staggered effective dates to ensure a smooth transition over the next few weeks.“