Marcel Valois, who twice served as the executive director of Commerce Rhode Island and has served on the RIIFC for years, has resigned.
“A new gubernatorial appointee is already in process and will be in place before the RIIFC Board meets again,” said Matt Touchette, a spokesperson for Commerce.
Touchette did not disclose the potential candidate and did not address why three of the five board positions are vacant.
"As Bill Ash is resigning from Commerce, it seems to be a good time to leave," Valois told GoLocal about his decision to resign.
Ash was the acting President of Commerce who recently left the agency, and is the third President to resign in the past two years under the leadership of Governor Dan McKee and Commerce Secretary Liz Tanner.
Commerce in Flux
John Ward, the chair of the RIIFC, said the committee has had quorum issues over the years.
"My initial appointment was during the Carcieri administration and I was reappointed in 2014 to a term expiring in 2018. I have continued to serve because when it was requested of me so many years ago, I agreed to 'show up' because they were having so much trouble maintaining a quorum," said Ward.
"Based on the recent news reports, it appears that the problems have spread throughout Commerce," added Ward.
