Mayor David Miller is stepping in to fill the top job at Invest Toronto, which has been vacant since Michael Bryant stepped down earlier this month, according to reports.
Bryant, who is Ontario's former attorney general, left his post as CEO voluntarily amid a storm of controversy after the death of 33-year-old cyclist Darcy Allan Sheppard.
Bryant, who was charged with dangerous driving and criminal negligence causing death, voluntarily quit because he didn't want the allegations against him "to distract from the vital efforts of Invest Toronto."
The city has also been advertising for a new CEO on its website.
Group board member Aleem Kanji told The Globe and Mail Tuesday that Miller's decision to take over the job shows that the city is serious about luring investment dollars to the city.
The departure of the well-connected and politically savvy Bryant was widely seen as a major loss for the group, which is attempting to offset higher unemployment and a gradual decline in the city's economic fortunes.
Until now, Miller had served as the chairman of the group's 15-member board.
Earlier this year, the mayor created Invest Toronto and the Build Toronto group in response to a list of recommendations put forward by an economic study group.
Bryant had said he loved his job and he told Miller in his resignation letter: "Let me be clear: I am innocent of the very serious accusations made against me."
"It would, however, be unfair to you, the board and above all to the residents of Toronto to allow this event to distract from the vital efforts of Invest Toronto."
