Sherman Phoenix Foundation CEO Departs in Leadership Shakeup
Abrupt exit after internal review and claims that group suffered 'alarming decline.'
Site of Sherman Phoenix Marketplace, 3536 W. Fond du Lac Ave. Photo taken Sept. 11, 2023 by Sophie Bolich.
Sherman Phoenix Foundation is in a state of transition after its leader, President and CEO Stacia Thompson, abruptly departed the nonprofit organization earlier this month.
The change, described by the board as a “new chapter of growth and accountability,” took effect Oct. 9 following “tenant feedback and an internal review of operations.”
Thompson had led the foundation for nearly four years, first as executive director starting in early 2022 and then as president and CEO from January 2024.
Days before the board’s announcement, a pseudonymous letter alleged “a state of alarming decline” at Sherman Phoenix “due to toxic workplace practices, mission drift, and a complete lack of accountability from leadership and the governing board.”
In response, the board said it does not comment on internal personnel or tenant matters but takes all concerns seriously and follows appropriate review procedures. Thompson declined to comment on her exit when reached Wednesday by Urban Milwaukee.
Also before the announcement, Sherman Phoenix scrubbed staff and board member names from its website, eliminating the previous “About Us” section.
Launched in 2020, the foundation works with Sherman Phoenix Marketplace, providing financial support and programming for the entrepreneurial hub at 3536 W. Fond du Lac Ave., which opened in 2018 and is currently home to 19 small businesses.
The marketplace remains open in Thompson’s absence, with Director of Operations Romero McCants overseeing day-to-day operations and Rashidah Butler-Jackson assisting the transition.
Interim leadership is expected to be announced soon, the foundation’s board of directors said in a statement, which also outlined a commitment to “ensuring the long-term health, transparency, and sustainability” of the organization and noted “steps to strengthen leadership and accountability.”
Sherman Phoenix will celebrate its seventh anniversary with a fundraiser, Phoenix Forward, on Nov. 29. The event will take place at the marketplace from 1 p.m. to 4 p.m., featuring music, auctions, giveaways and more.
To RSVP or donate, visit the Sherman Phoenix website.
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