The U.S. Olympic Committee Board of Directors appointed Stephanie Streeter, a member of the organization's Board of Directors and the former Chairman, President and CEO of Banta Corporation, as Interim Chief Executive Officer.
Streeter will begin her duties immediately and will work with Scherr during the transition in March.
"The U.S. Olympic Committee is a decidedly stronger and more effective organization today than it was six years ago, and that is due in large part to the leadership Jim Scherr has provided," said USOC Chairman Larry Probst. "Jim guided our organization through a period of unprecedented challenge and change, and did so with an unwavering commitment to enabling America's athletes to succeed on the field of play. We are indebted to Jim for his outstanding service to the U.S. Olympic Movement, and wish him the very best for continued success."
Under his watch, the United States won 110 medals at the Beijing Games last summer, the most medals won by the delegation in an Olympics without a boycott. The organization also did not have to borrow money at the beginning of this four-year cycle, as it had in at least the past two decades.
Scherr's resignation comes about a month in front of the International Olympic Committee's expected visit to Chicago to evaluate that city's bid for the 2016 Games.