Mayor Rahm Emanuel on Wednesday appointed Kurt Summers Jr. to the City Treasurer post being left by Stephanie Neely.
“Kurt Summers has the experience, the values and the integrity we need of everyone who holds public office,” Emanuel said in a statement. “I am confident that he will become a vital member of the city’s financial team and help manage the city’s investments effectively, efficiently, and in a way that promotes opportunity for every Chicagoan.”
Summers previously served as Cook County Board President Toni Preckwinkle's chief of staff.
Neely announced her resignation, effective at the end of November, to her staff Monday morning, telling them she plans to return to the private sector. In a statement released Monday afternoon, Neely confirmed "with mixed emotions" that she will not seek re-election.
"When I came into this office nearly 8 years ago I vowed to become the best Treasurer this city has ever had," she said. "It has been an honor and a privilege to serve my hometown as its Treasurer."
Neely's resignation allowed Emanuel to appoint her successor, and many speculated Summers would be chosen.
“I intend to bring to the Treasurer’s office a focus on financial stewardship, accountability, innovation and investment," Summers said in a statement. "This is not a short-term investment for me. I am committed to having a long-term impact, and I will work to earn the support of Chicagoans."
Summers' appointment is pending City Council approval.