Howard Tullman is leaving 1871.
Tullman, a serial entrepreneur who took over the reins at the Chicago tech hub and co-working space four years ago, is moving on from the organization, according to the Chicago Sun-Times. The Sun-Times obtained a memo written by Chicagoland Entrepreneurial Center board chair James J. O’Connor, who sent a letter to the group's board outlining the news.
The Chicagoland Entrepreneurial Center oversees 1871.
“Howard and I have been discussing the next steps for both of us at 1871 for quite some time and have agreed that he has more than fulfilled his commitment to all of us serving an incredible 4 years which has marked unparalleled growth in 1871 and the overall Chicago entrepreneurial eco-system," O'Connor said in the memo, according to the Sun-Times.
“When Howard took over the reins, we thought he might be able to squeeze in at most 2/3 years and it has been our honor to have him serve so long and so well as our CEO," he added.
The CEC and 1871 confirmed the news Wednesday afternoon in a blog post. Tullman plans to step down at the end of 2017. O’Connor also announced he plans to step down from his position as board chair at the end of 2018.
A consulting company will be tasked with finding Tullman’s replacement, according to the Sun-Times.
Tullman currently also serves as the managing partner of G2T3V and Chicago High Tech Investment Partners, two Chicago-based investment firms.
Tullman was a practicing lawyer in the 1970s until he retired from law in 1980 to found CCC Information Services, a Chicago tech company he sold in 1987 for $100 million. Tullman has founded a myriad of companies since, including Original Research, Boats.com, UsedCars.com, and Tunes.com, which he sold for $140 million. He also launched Tribeca Flashpoint Academy, the Rolling Stone Network, and Experiencia.
Tullman joined 1871 in 2013 when he took over for then-CEO Kevin Willer, who left to be a partner at Chicago Ventures.
Mayor Rahm Emanuel issued a statement following the news, saying in part: "Howard Tullman is a dear friend, to me and to this city. His innovative leadership has helped fuel Chicago’s expanding tech sector and support the growth of hundreds of businesses across the city. Howard has mentored countless entrepreneurs and startups that are creating new jobs and changing the face of Chicago’s digital economy, and he has transformed 1871 into one of the leading technology incubators in the world. His imprint on a diverse new generation of leaders leaves a lasting legacy across the city."
