By David Pendered
Atlanta’s chief finance officer is out, just 16 months after Mayor Kasim Reed nominated her with glowing remarks.
The departure of CFO Joya C. De Foor was announced to members of the Atlanta City Council in an email Monday evening. The email was signed by Reed’s chief of staff, Candace Byrd.
Peter Aman, Atlanta’s COO, said late Tuesday that he could not speak on the situation because it is a personnel matter.
Here’s the note sent Monday at 6:09 p.m. to the council:
“Dear President Ceasar Mitchell and Members of the Atlanta City Council:
“Please be advised that effective today, Joya C. De Foor, Chief Financial Officer, is no longer employed by the City of Atlanta. We wish Ms. De Foor well in her future endeavors.
“Candace L. Byrd, Esq.
“Chief of Staff, Mayor Kasim Reed”
De Foor was nominated after a nationwide search conducted on the city’s behalf by the executive search firm Spencer Stuart, which worked with a search committee chaired by Jim Hannan, Chairman and CEO of Georgia-Pacific Corp.
Here’s the media statement on De Foor that was released by Reed’s office. It’s dated June 10, 2010:
MAYOR KASIM REED NAMES NOMINEE FOR CHIEF FINANCIAL OFFICER
Mayor Kasim Reed today announced that Joya C. De Foor is the nominee for Chief Financial Officer of the City of Atlanta. Her selection is the result of a three-month national search conducted on the City’s behalf by a search committee appointed by the Mayor. The committee worked with the executive search firm Spencer Stuart to interview and recommend candidates to lead the City of Atlanta’s financial team.
After receiving the search committee’s recommendations, Mayor Reed and Chief Operating Officer Peter Aman individually interviewed five candidates and then narrowed the list down to three finalists for the position of Chief Financial Officer.
“We are seeking and investing in a level of talent and leadership that the City of Atlanta has not seen before,” Mayor Reed said. “Joya C. De Foor is eminently qualified to deliver better fiscal performance for the City of Atlanta.”
“She brings a strong track record of managing the finances of a government that maintained a AAA-investment rating by one or more of the major agencies for the last seven of the eight years of her term. I believe she is the right person to guide Atlanta toward a stronger financial position, which will lead to an improved outlook with the major bond rating agencies,” Mayor Reed added. “She will ensure that taxpayer dollars are budgeted and spent wisely.”
De Foor served as the City Treasurer for the city of Los Angeles since 2001. In that position, she prepared and presented financial and policy recommendations to the Mayor, City Council and department heads on financial issues including public/private partnerships, financial risk management, budget, public finance, capital market developments and emerging regulatory requirements. Prior to her appointment as Los Angeles City Treasurer, De Foor served as the City Treasurer and Revenue Officer for Long Beach, CA. She also worked for several years in various financial capacities for the Los Angeles County Metropolitan Transportation Authority.
De Foor has experience as a senior management consultant for Deloitte and Touche and in accounting and financial operations for Coldwell Banker. She earned her Bachelor of Business Administration from the University of Notre Dame and her Master of Business Administration from the University of Southern California.
“I am extremely honored and humbled by Mayor Reed’s confidence in my ability to prudently manage the City’s financial resources and provide guidance on how to address Atlanta’s new fiscal reality,” De Foor said. “I am looking forward to joining the Administration and working on behalf of the residents of the City of Atlanta.”
The Chief Financial Officer Search Committee was chaired by Jim Hannan, Chairman and CEO, Georgia-Pacific Corporation. Other members of the committee included: Jim Glass, the immediate past CFO for the City; Larry Cooper, principal, Bentley Investments, Inc.; Constance Barkley-Lewis, principal, SmartWork Strategy Partners; Susan Bell, managing partner, Ernst & Young; Jocelyn Hunter, attorney, Home Depot; Milton Jones, managing partner, Integrated Capital Strategies; Vicki Palmer, CFO (retired),Coca-Cola Enterprises; Larry Patrick, director and chief diversity officer, Pricewaterhouse Coopers; and former mayoral candidate Jesse Spikes, McKenna Long.
“Joya DeFoor has the full support of me and the entire CFO Search Committee,” Hannan said. “She has the credentials and experience necessary to lead the City’s finance department and support Mayor Reed and the City Council in their fiscal stewardship for the City of Atlanta.”