LA Plaza CEO out due to 'financial mismanagement'

The Downtown News breaks this, as far as I can tell. Miguel Angel Corzo, president and CEO of the new LA Plaza de Cultura y Artes near the historic Plaza, has been removed and there have been layoffs due to what sources are calling "financial mismanagement." The center just opened in April.

In an email to Los Angeles Downtown News, Angie Castro, senior field deputy for First District County Supervisor Gloria Molina, said the LA Plaza board decided not to renew Corzo's contract. Molina, who spearheaded the project, sits on the 12-member board.

Miguel Santana, city administrative officer for Los Angeles and a LA Plaza board member, confirmed that Corzo's contract was not renewed due to financial mismanagement. However, because of possible litigation, he said he could not offer many details as to what exactly occurred. He said the board decision was unanimous.

Santana said that the board encountered a number of financial concerns dealing with overall management, accounting for expenditures and how operating funds were being handled. He said concerns were first raised after complaints came to Molina's office from vendors working on LA Plaza about getting late payments.

"At this point in time, because his contract was up for renewal, we decided we really needed someone who had the financial expertise to manage an organization like this," Santana said.

Corzo had previously left as CEO of Downtown's Colburn School after about a year, and has served as director of the Getty Conservation Institute.