Tom Schumpert, executive director of the Rhode Island Economic Development Corporation, submitted his resignation Friday to Gov. Lincoln Almond.
While the timing of the resignation may have been unexpected, it does not come as much of a surprise. Schumpert was appointed by a governor now just a few months away from completing his term, leaving the collective fates of department heads like Schumpert very much up in the air.
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In an e-mail message to RIEDC co-workers on Friday afternoon, Schumpert said he decided to accept an offer to join Roger Williams University as executive director of the Metro Center and Community Outreach. Schumpert thanked employees for their hard work and support.
Schumpert told Providence Business News that he was thrilled to have an opportunity to remain in the Ocean State. He considered his future in state government “very uncertain” with Almond soon to be out of office.
“It’s a dream,” he said, of his new post.
“Mr. Schumpert possesses the management skills needed to clarify the enterprise’s overall direction. He is also a well-established and respected individual in the Providence business community as well as throughout the state and region,” said Roger Williams University President Roy J. Nirschel.
Schumpert will assume the new position on Aug. 26.
Schumpert will be responsible for the overall administration and advancement of the university’s Metro Center in downtown Providence. He will work to develop and implement the university’s strategic plan to expand the university’s corporate and community relations.
Schumpert’s rise in state government has been rapid. In the summer of 1999, Almond appointed him to head the state Department of Business Regulation.
While at DBR, Schumpert worked long hours to resolve the Harvard Pilgrim health insurance dilemma, reaching an agreement in principle with the state of Massachusetts on payment in full for service providers to members of Harvard Pilgrim Health Care in New England. Some had felt that Schumpert would have been lucky to get a fraction of the money he, and the state, was after — he got it all.
It was during that time that he earned the deep respect of Almond.
The search for a new director at EDC began after John Swen resigned during the first week of 2000. Swen’s departure was the result of both political and public fallout from his admission that he and members of his staff had used state credit cards inappropriately.
The committee charged with finding a replacement for Swen received more than 100 resumes for the position that is chiefly responsible for assisting existing businesses and luring new ones to Rhode Island. One of them came from Schumpert.
Almond made it clear during a press conference to introduce Schumpert as Swen’s successor that Schumpert had impressed him during his tenure at DBR.
“He has never seen a challenge he can not meet,” said Almond. “He has tremendous leadership and negotiating skills. When it comes to business, Tom really knows how to close a deal.”
Prior to taking over as director of the state Department of Business Regulation in the late spring of 1999, Schumpert was president and founder or TS Associates, Inc., a Boston management consulting practice. His specialty there was commercial lending, economic development and business finance.
In addition, Schumpert served as president of the Massachusetts Minority Enterprise Investment Corp. While at MMEI, Schumpert developed a lending, venture capital and technical assistance operation to provide access to banking for minority-owned small businesses in Massachusetts. He also served as senior vice president at two banks, including Bank of New England in Boston. He was as an assistant vice president with Fleet National Bank in Rhode Island.
Schumpert served in the U.S. Air Force in Vietnam from 1965 to 1966. He earned a management degree from Rutgers University in New Jersey.
