Recovery Board Chairman to Step Down

December 1, 2011

Earl Devaney, the chairman of the board set up to oversee more than $800 billion in federal economic stimulus efforts under the 2009 Recovery Act, will step down from his position at the end of the year.

The Washington Post reported Thursday that Devaney plans to retire to Florida with his wife and will seek part-time work consulting or serving on corporate boards.

As head of the Recovery Accountability and Transparency Board, Devaney is credited with shifting the focus away from tracking down fraud in federal spending after it occurs to proactively monitoring funds as they are disbursed. 

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