Smith Out as CEO at Chevy Chase Land Company

Board let him go Thursday

August 25, 2014 11:33 a.m.

David M. Smith, the president and CEO of Chevy Chase Land Company (CCLC) since 2008, was ousted by the company's board of directors on Thursday.

“I don’t know whether the details of his departure have been finalized, but he is no longer president…,” said Miti Figueredo, vice president of public affairs for CCLC, one of the area’s largest and most historic development companies. “It was time to make a change in leadership."

The CCLC board has "initiated a search for a new president and CEO" and candidates from outside the privately held company will be considered, Figueredo said. "Otherwise, operations are running as they always have."

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Kate Carr, the chairwoman of the CCLC board, is serving as interim CEO of the 124-year-old company.

Figueredo declined to say why the board decided to let Smith go, saying only that "the board did express a great deal of gratitude" to him.

At deadline, Smith had not returned a phone call seeking comment.

His departure comes at a time when CCLC is guiding its Chevy Chase Lake redevelopment project through Montgomery County's planning approval process.

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