Vitale out as head of The Climate Trust
By Christina Williams
Sustainable Business Oregon editor
Ben Vitale is stepping down from his leadership post at The Climate Trust.
Officials at The Climate Trust announced Wednesday that Ben Vitale, hired in late 2009 as president of the trust, will leave his post in order to return to the private sector.
The Climate Trust, a nonprofit that sells carbon offsets and provides climate-related consulting services, will announce the appointment of an interim executive director while a search is conducted to replace Vitale.
Officials say Vitale plans enter the world of sustainable investing, but that he's not disclosed where he'll go to pursue that interest.
The group's revenue took a hit in 2010, falling from $3.3 million in 2009 to $1.8 million in 2010. It recovered some in 2011, the most recent year for which there is an annual report available on the trust's website, to $1.9 million. In 2011, the organization neared the milestone of offsetting 1 million metric tons of greenhouse gas emissions and after two years of financial loss, finished the year $135,000 in the black.
Members of the trust's board applauded Vitale's work in a press release.
"We are extremely appreciative of Ben’s leadership over the past three years during which the company has undergone a successful transformation and become a nationally recognized innovator in the carbon markets," said Laura Beane, board chair and director of regional market structure and policy for Iberdrola Renewables. "Mr. Vitale and The Climate Trust senior management team have built a robust plan for fiscal year 2013, and we are confident the change in leadership will not alter that strategy nor hamper its effectiveness in any way."
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