The Board of Directors of the Appraisal Institute (AI) accepted the resignation of CEO Frederick H. Grubbe last week, AI announced in a release.
Grubbe resigns after more than 10 years of service.
The board appointed 2017 AI President Jim Amorin as the organization’s acting CEO. Amorin will continue as president through his one-year term, which ends Dec. 31. AI immediately will begin a search for a new CEO, the release said.
“I have enjoyed my tenure at the Appraisal Institute, and I am grateful to have had the opportunity to work with so many fine people over the years,” Grubbe said in his resignation letter to the board. “I am proud of what we’ve accomplished, and I wish you nothing but the best in addressing the many issues you have before you.”
The AI Executive Committee – consisting of Amorin, President-Elect James L. Murrett, Vice President Stephen S. Wagner, and Immediate Past President Scott Robinson – expressed their thoughts in a letter to the board.
“Fred’s leadership has helped stabilize and improve the association’s finances, bringing our national reserves to a current high. He has been instrumental in the establishment of a professional staff culture and has helped structure an efficient operation. Fred’s vision helped shape many of the programs that are in place today and his steady hand driving strategic initiatives has been valuable,” the committee wrote. “Fred dedicated himself to the Appraisal Institute and its members and laid the groundwork for the association’s future. We wish Fred well in his future endeavors.”