Autoplay
Show Thumbnails
Show Captions
LINKEDINCOMMENTMORE

Go Cedar Rapids, the convention and visitors bureau responsible for Newbo Evolve, a music and arts festival that lost millions, announced an interim CEO early Monday.

Jim Haddad takes lead of the organization starting Monday, a news release said. He’s a Cedar Rapids native and University of Iowa graduate with 20 years executive experience in operations and finance.

The organization posted last week that Newbo Evolve lost an $2.3 million, with ticket sales generating roughly $1.5 million of the festival’s estimated $3.8 million budget. The event, which took place Aug. 3-5 in Cedar Rapids, teamed concerts from Kelly Clarkson and Maroon 5 with lectures from Olympian Adam Rippon, designer Christian Siriano, director John Water and more.

Haddad will be tasked with completing an internal audit and strategizing how the festival plans to pay back a $1.5 million line of credit with Bankers Trust. An unspecified number of Newbo Evolve vendors remain unpaid, Go Cedar Rapids board of directors Chairman John Myers told the Register last week.

More: How did an Iowa festival lose $2.3 million? Industry professionals weigh in

The board fired former CEO Aaron McCreight and community events director Scott Tallman in the aftermath of the festival.

Hubbard previously worked as chief financial officer at Yellowbook USA. He’s worked with “various local non profits,” the news release said, including the United Way.

“As someone with no prior association with GO Cedar Rapids, Jim can provide independent analysis and the leadership necessary to move forward in a transparent way,” Myers said in a news release.

LINKEDINCOMMENTMORE
Read or Share this story: https://dmreg.co/2BQVW1n