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McMennamin resigns as CSO board chairman
The chairman of the Columbus symphony board of trustees has resigned. The announcement comes days after Michael McMennamin left his position as chief financial officer at Huntington bank amid a SEC investigation.
In his letter of resignation, Michael McMennamin wrote was leaving the symphony board because he needed to fully focus on events in his business life.
Earlier this week, Huntington announced it was replacing McMennamin as C.F.O. as the bank tries to reach a settlement with the Securities and Exchange Commission.
Regulators have been looking into alleged accounting problems at Huntington.
Last month, the CSO hired former Bank One investment executive mark Beeson as interim executive director. Beeson himself was fined by the sec for trading violations.
The CSO faces other challenges: the search for a new music director and negotiations with the musicians union over a proposed pay cut.
Before McMennimen resignation announcement, the head of the musicians union, Doug Fisher said he was concerned about the impact on contributions.
McMennamin served on the board for 4 years, the last year as chairman.
The vice chair of the CSO board, Fordham Huffman will serve as chairman until a full board election can be held.
In a statement, Huffman said the board is grateful for McMennamin’s leadership. Huffman said the board regrets but understands McMennamin’s decision