Industry News

Chicago MLS terminates CEO

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After months of debate over a costly audit and internal struggles, the board of the Multiple Listing Service of Northern Illinois fired its chief executive Tuesday evening. A board group during a special meeting terminated CEO Jay Huffman "without cause," according to Huffman's attorney Karen Levine, partner of Novack and Macey in Chicago. That means there was no statement of wrongdoing, she said. Huffman has been at the center of a controversial forensic audit conducted by PriceWaterHouseCoopers that some members estimate cost the MLS as much as half a million dollars. The audit was ordered during a shareholder meeting in April after the late arrival of MLSNI financial reports. The MLS has been divided on the results of the audit, which were released in August. "Mr. Huffman is vindicated," Levine said. "All along he has proclaimed that he did nothing wrong." Levine wouldn't comment on whether Huffman would receive a severance package. She indicated there was an unresolved issue rega...