VEDC Board Finalizes President’s Departure Terms
The board of the Valley Economic Development Center met Thursday and finalized plans for the departure of its longtime president, John Rooney, who has stepped down to start his own movie production company, sources said.
Marvin Selter, acting board chairman for the Van Nuys-based agency, which assists in small business development, declined to comment on the actions taken at the meeting, saying he would issue a news release later this week.
However, sources said the final terms of Rooney’s departure have been worked out.
“There is an agreement between all parties, and everyone seems to be happy with the outcome,” said one source close to the agency. “I think everybody wants to move on.”
Rooney declined to comment. However, he has told close associates that he plans to start his own business in film production and to continue small-business consulting.
Rooney and VEDC board members have sparred over several issues, including consulting fees paid to Rooney and another agency worker.
Longtime board Chairman David Honda resigned his position last month.
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