ACG Loses Its Head

Dan Varroney has quietly resigned as president and CEO of the Association for Corporate Growth, a trade group that represents over 11,000 mid-market corporations, private equity firms, finance firms and professional services organizations.

The move was first disclosed in a letter to members, and was said to be “by mutual consent.” Sounds like the divorce was fairly sudden, as Varroney is currently unemployed (seeking lobbyist work in DC) and ACG has named CFO Bradley Hughes as interim president (it’s interviewing both internally and externally for a fulltime replacement).

The trade group was founded in 1954, and spent its first 51 years run by an association management firm. In 2005, however, steep membership growth prompted the board to search for a fulltime president and CEO, and found its man in Varroney. He previously had been with the National Association of Manufacturers as senior vice president of both the Field and National divisions.

ACG Chairman Paul Stewart confirmed Varroney’s departure, saying: “Under Dan’s leadership, ACG experienced significant growth and brand awareness, put into place the business model and professional infrastructure needed for future success, helped restore financial stability, and brought increased visibility to ACG, which helped recruit new members, speakers and sponsors, as well as achieve record attendance at InterGrowth. Dan was highly instrumental in bringing ACG to a new level and his achievements have made ACG a much stronger, more vibrant and more connected organization. We thank Dan for his tireless efforts, strong work ethic and significant achievements, and we wish him the best in his new ventures.”