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The Direct Marketing Association (DMA) announced yesterday that president/CEO John A. Greco, Jr. [pictured right] has resigned effective immediately. The association has organized a search committee to identify an interim executive as well as a permanent replacement.
Greco’s resignation comes just six months before the end of his contract extension and follows growing concern over his steadily increasing salary during a time when the association was cutting employees and experiencing a revenue decline.
In September, DMA board member Gerry Pike reportedly criticized the increase in the association’s membership dues and claimed that there were violations against the association’s bylaws in regards to Greco’s salary. Pike urged DMA members to send him their voting proxies, which were beneficial in his preparation to express his concerns at a business meeting during DMA09 in October.
Greco’s salary as DMA’s president/CEO was $720,671, with an additional $117,857 in contributions to employee benefit plans and deferred compensation plans, according to DMA’s Form 990 filed for the year ending June 30, 2008.
“As we enter into the new decade and are anticipating an economic resurgence, it’s more important than ever to ensure that both traditional and digital multichannel direct marketing is at the forefront of that recovery,” Eugene Raitt, chairman of the DMA Board of Directors, said in a statement. “Bringing in new leadership to the management team focusing on the areas we intend to grow will be part of that process. The committee will conduct an aggressive search and I’m confident that we will find an exceptionally qualified individual to fulfill the DMA’s vision and goals.”
Raitt went on to say that the association was “grateful for John’s able service and dedication to the Direct Marketing Association over the past five years. We wish him much success with his future endeavors.”
Greco joined the DMA in 2004. Prior to his tenure, he was co-founder of Greco Enterprises LLC and worked at companies such as the Yellow Pages Integrated Media Association and R.R. Donnelley & Sons Co.
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