William Friedman has held several previous port posts, most recently as CEO of the Ports of Indiana. Before that he held several positions at the Port of Seattle, the nation's fifth largest maritime port.
That experience gives Friedman a leg up on predecessor, Adam Wasserman, whose background was extensive in economic development but lacking in the shipping business. Wasserman resigned last year amid controversy over decisions involving the port's future location and financial troubles.
Friedman says finding a new location to deposit dredge material from the Cuyahoga River is a top priority. Right alongside that is re-energizing the Port's development financing arm.
Friedman: "It's about economic development and economic impact and jobs, and leveraging the port's capabilities to that end. And that's what we're we're going to roll up our sleeves and get working on right away."
Friedman says one of the Port Authority's big challenges is making the Port of Cleveland a top performer in Great Lakes shipping. Container shipping may be a part of that - where goods are shipped in standard-size cargo containers that are easily transferred from ships to trucks or trains. Currently there is little, if any container shipping on the lakes, but Friedman doesn't discount introducing it.
Friedman: "The lake seaway system is certainly possibile for well-designed container services to work. Will they be on the scale and of the same nature as what you see on the east coast and the west coast? Not likely. But could they bring new business, do they represent a new business opportunity? Sure. And we want to be at the forefront here, absolutely."
Friedman will take over as President and CEO of the Port Authority on June First. He succeeds former National City President Peter Raskind, who stepped in to run the Port for a salary of one dollar after Wasserman resigned.
Friedman's starting salary will be 200 thousand dollars a year, less than Wasserman's. He'll also be eligible for up to 20 thousand dollars in bonus pay at the end of 2011, if he meets specific benchmarks established by the board. He'll receive no severance pay if he is terminated for performance or other just cause reasons.
