First three appointments made to Detroit's "Financial Advisory Board"

Apr 19, 2012

The consent agreement the city of Detroit signed with the state earlier this month calls for the creation of a nine-member financial advisory board.

The board will have oversight over the city's finances.

Governor Snyder's office released the names of the three members appointed to the board today:

Former state Treasurer Robert Bowman, currently president and CEO of Major League Baseball Advanced Media LP, is the joint appointee of Snyder and Bing. Darrell Burks, currently a senior partner at PricewaterhouseCoopers, will be one of three individuals appointed by Gov. Snyder, and Ken Whipple, chairman of the board of Korn/Ferry International, is Treasurer Dillon’s appointee to the FAB.

Forbes has a profile of Robert Bowman.

Three are appointed - six more appointments are left.

Under the agreement, Gov. Snyder will select two more members of the board, Mayor Bing will select two, and Detroit City Council will select two.

Those serving on the board will receive compensation of $25,000 per year.

Detroit Deputy Mayor Kirk Lewis—who’s still serving in place of the ailing Mayor Bing—says the city is moving to comply with the consent agreement.

 “So we’re making progress," Lewis told reporters Thursday. "I’d expect over the next couple of weeks we’ll have that [advisory board] taken care of.”

Lewis says after that, city and state officials will move on to filling two more powerful positions outlined in the agreement: a Chief Financial Officer, and a Program Director.

He also says Bing is slated to return to work part-time in “a couple of weeks.”