MADISON — The CEO of the state economic development agency that's had problems since Gov. Scott Walker created it in 2011 is stepping down.



Wisconsin Economic Development Corporation Secretary Reed Hall said Tuesday, August 25th he plans to retire from the agency. WEDC Board Chairman Dan Ariens thanked Reed for his leadership during a "challenging" time for the agency.



Its troubles have included not tracking past-due loans, leadership turnover and audits that revealed mismanagement. A state audit last fall found the agency lacked documentation justifying spending on expenses and grants during its first two years.



WEDC leaders voted recently to hire a consultant to review its operations and named a new chairman. The agency remains in disarray as Walker campaigns for the Republican presidential nomination.



Hall says his last day will be September 25th.



Governor Walker issued the following statement regarding Reed Hall’s announcement that he will be retiring from his position as Secretary/CEO of the Wisconsin Economic Development Corporation (WEDC):



“I want to express my sincere thanks and gratitude to Reed for his service to the state of Wisconsin through his sound leadership at the Wisconsin Economic Development Corporation. Reed has overseen a transformational period at WEDC with a steady hand. Under Reed’s guidance, WEDC strengthened its accountability and transparency to taxpayers, improving the public trust, while moving forward the important work of developing economic opportunity for families all around our state. I wish Reed and his family the best in their next phase as he retires from his role at WEDC.”



Moving forward, Governor Walker will work with WEDC Board Chair Dan Ariens, as well as other members of the Board, to determine the best candidate to nominate as Secretary Hall’s replacement, according to Walker's office.



Rep. Peter Barca (D-Kenosha) issued this statement:

