MEMPHIS, Tenn. (WMC) – Ted Townsend resigned as CEO of the Greater Memphis Chamber of Commerce on Thursday.<\/p>\n
Townsend had been on leave since mid-March. He told Action News 5 he took time off for personal reasons but Chamber officials never provided any statement about his leave.<\/p>\n
In June 2024, Townsend was riding high as leader of the Greater Memphis Chamber of Commerce. xAI\u2019s arrival in town boosted the city\u2019s bottom line and Townsend\u2019s.<\/p>\n
Salary jumped after landing xAI<\/p>\n
According to the Chamber\u2019s 990 IRS forms, Townsend\u2019s annual salary when he was named Chamber CEO in 2022 was $302,000. After landing xAI, his 2024 pay jumped to more than $720,000.<\/p>\n
In March of this year, not long after posting \u201cF you\u201d to sports commentator Stephen A Smith on X after Smith suggested Nashville would be a better NBA city than Memphis, Townsend deleted the tweet. He posted an apology and took a leave of absence.<\/p>\n
Townsend told Action News 5 he was stepping away to process his mother\u2019s passing late last year and to celebrate his daughter\u2019s recent wedding.<\/p>\n
\u201cYou know, I\u2019m focusing…I\u2019m targeting on a return for the first week of May,\u201d Townsend said in early April.<\/p>\n
Chamber announces resignation<\/p>\n
But on April 30, the Greater Memphis Chamber announced Townsend had resigned. The Chamber\u2019s news release said:<\/p>\n
\u201cTed Townsend is stepping down from his role as CEO of the Greater Memphis Chamber. We appreciate his tireless efforts to fulfill our shared mission. In the interim, we are honored to have current Board Chair Duncan Williams step seamlessly into the role.\u201d<\/p>\n
The Greater Memphis Chamber Board of Directors and Chamber Staff will continue to focus on our core mission of economic development, workforce initiatives, and supporting the business community throughout Greater Memphis.<\/p>\n
We wish Ted the best in his future endeavors and thank him for his dedication to the Chamber and the Greater Memphis region.”<\/p>\n
Townsend took to Facebook saying, \u201cLeading the Greater Memphis Chamber has been one of the great experiences of my life. The Chamber will keep doing what it does best: fighting for Memphis.\u201d<\/p>\n
He also touted Memphis being positioned as a global tech leader, securing $400 million for America\u2019s River Crossing and being named 2025 Chamber of the Year.<\/p>\n
\u201cI\u2019ve got a great, great team,\u201d Townsend told Action News 5 in early April during his leave of absence, \u201cThey love what they do. They love how we do it. And our board does too. So everybody\u2019s rallying, and I\u2019m so thankful for that.\u201d<\/p>\n