TEDCO CEO Rob Rosenbaum resigns

Rob Rosenbaum has resigned his post as the head of TEDCO.
Rosenbaum, who held the title of President and CEO, left the quasi-public agency “effective immediately,” the organization announced Friday. Rosenbaum intends to pursue other interests, the statement said.
TEDCO will seek a new CEO in a nationwide search. John Wasilisin, who has been executive vice president and COO since 2007, will now serve as President and COO.
We’ll have more details as they become available.
Rosenbaum served in the lead role for more than five years. In the role, he was a frequent spokesman for both the organization and the state’s efforts to foster startups.
“The entire Board wishes Rob well in his future endeavors,” Newt Fowler, chair of the TEDCO Board of Directors, said in a statement. Fowler was one of four new executive officers elected over the summer for a one-year term.
The agency provides investment to startups through multiple programs. Many Baltimore startups have received funding through TEDCO’s Technology Commercialization Fund (TCF), Cybersecurity Investment Fund and others.
TEDCO recently expanded its profile. Recent legislation transferred the Maryland Venture Fund under its management from the state, and TEDCO hired a new manager to oversee it. A second set of changes allowed companies to apply for a second round of TCF funding. In November, TEDCO moved into new offices in Columbia.