Carol Coletta is stepping down as president and CEO of the Memphis River Parks Partnership. Coletta formally announced her decision to leave during a meeting of the organization’s board of directors on Monday.
Memphis River Parks Partnership (MRPP) manages six miles of riverfront and 26 properties along the Mississippi River. Coletta has served as CEO and president of MRPP since 2018, including overseeing the $61 million renovation of Tom Lee Park. The board of directors confirmed it would “immediately launch a search for her successor.”
In a statement announcing her departure from MRPP, Coletta said, “It has been the greatest honor of my life to work with you, our fantastic team, and our generous donors to create a riverfront worthy of our beautiful river.”
The MRPP released a statement praising Coletta as the “visionary behind the new Tom Lee Park and the reimagined riverfront.” Pitt Hyde, founder of AutoZone and the Hyde Family Foundation, praised Coletta’s work on the project, adding, “We could not have created this world-class park without Carol’s incredible leadership.”
In addition to Tom Lee’s transformation, Coletta oversaw the completion of River Garden and Fourth Bluff Park during her tenure, and the development of River Line, a four-mile riverfront biking and walking trail that connects the Wolf River Greenway and Big River Crossing across the Mississippi. In June, MRPP broke ground on the Memphis Flyway, the only free, ADA-accessible observation deck on the Mississippi. Set to open in 2026, it is expected to attract more than 1 million new visitors a year.
Coletta noted that during her time as leader of the organization, MRPP “has completed four major projects on budget and on time. We did it in just six years. We attracted over 1 million people to the new Tom Lee Park in the first year. We have another major project, The Flyway, in progress that will significantly increase that number. We have reached a milestone for minority participation in public-private projects. We have raised $80 million for capital projects on the city’s riverfront.”
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In an interview with The Commercial Appeal, Coletta said she informed the board’s executive committee of her decision two weeks ago, but that she began thinking about leaving after a board retreat in May, during which long-term plans for MRPP were discussed.
“We just finished a very ambitious seven-year period,” Coletta said. “And I was so pleased that the [MRPP board] had taken on a very ambitious agenda for the next arc of work. But I thought this would be a good time for me to step back. They need someone to start and finish the work, who can be there for the duration of the work.”
Coletta added that the MRPP leadership “feels very bold about the work that lies ahead. That means they need to feel bold about the leadership that they need. They have very high standards. And what’s coming next is going to be very exciting.”
MRPP board vice chair Tammy LoCascio, chief operating officer of First Horizon Corp., will lead the board’s search committee. The search will be conducted by Memphis firm Adams Keegan and is expected to be completed by the end of the year.
There would likely be a transition period, with Coletta staying on until late 2024 or early 2025. “I have no doubt we’re going to have a great new president and CEO,” Coletta said. “He or she won’t need long to get up to speed.”
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Coletta also said she was “clearly not retiring” and that her own plans included a return to consulting. Coletta ran her own consulting firm, Coletta & Company, for two decades, developing policy and strategies for urban change for foundations, nonprofits and governments.
“My plan now is to work with cities again and make cities places that matter,” said Coletta, who added that she “plans to stay in Memphis.”
Prior to joining MRPP, Coletta helped launch ArtPlace, a partnership between national foundations and the National Endowment of the Arts to accelerate creative placemaking across America. Coletta also served as Vice President of Community and National Initiatives for the John S. and James L. Knight Foundation.
This article originally appeared on Memphis Commercial Appeal: Carol Coletta Leaves Memphis River Parks Partnership: Here’s Why
