MEMPHIS — The Greater Memphis Chamber of Commerce announced on July 9 that it is accepting applications for a new CEO, following the April resignation of Ted Townsend. The organization began its formal search process on June 9 and has retained the executive recruiting firm Jorgenson Pace to lead the national search.

Duncan Williams, a Memphis-based financial executive and part owner of the Memphis Grizzlies, is currently serving as interim CEO of the chamber. No timeline has been provided for the appointment of a permanent successor, and an executive search committee will ultimately make the hiring decision.

The chamber is seeking candidates with backgrounds in regional economic development and strategic growth who can foster trust among government agencies, the business community, and the broader public. The position comes at a time when the organization reported $10.8 million in revenue in 2023, a figure attributed in part to the recruitment of the xAI Colossus Supercomputer to Southwest Memphis.

Townsend resigned as CEO in April after serving in the role for more than two years. At the time of his departure, he stated he wanted to spend more time with his family. Prior to leading the chamber, Townsend was the chief economic development officer at the University of Memphis and established public-private partnerships that led to the opening of the University of Memphis Research Foundation Park.

During Townsend’s tenure, his base salary rose from $302,000 in 2022 to more than $720,000 in 2024, reflecting a 92% salary adjustment that year. Overall executive compensation at the Greater Memphis Chamber increased by 25% between 2022 and 2024, with total executive compensation reaching $5,854,830 in 2024 according to IRS Form 990 filings.