SBA’s Karen Mills to Step Down

    By Adrienne Burke | Small Business

    Just one year after her position was elevated to the Cabinet level, Small Business Administrator Karen Mills will step down, President Obama announced yesterday.

    In a statement, the President said:

    "Over the last four years, Karen has made it easier for small businesses to interact with the federal government by reducing paperwork and cutting through red tape. She has played a leading role in my Administration’s efforts to support start-ups and entrepreneurs. And she was instrumental in the passage of the Small Business Jobs Act. Because of Karen’s hard work and dedication, our small businesses are better positioned to create jobs and our entire economy is stronger."

    Mills joined the SBA job from a career in venture capital, where she had been known for supporting women entrepreneurs as managing director of Solera Capital. Most recently, she was president of MMP Group, a private equity firm.

    Politico observed that Mills's departure hints at a trend:

    "Mills's announcement marks yet another departure of a high-ranking woman from the Obama administration, following the resignations of Secretary of State Hillary Clinton, Labor Secretary Hilda Solis and Environmental Protection Agency administrator Lisa Jackson."

    And the Washington Post reports that as the White House searches for a replacement, Mills's deputy Marie Johns is not a candidate, because she resigned last week. Mills, who has been in the position since 2009, will stay until a replacement is named.

    Subscribe to our mailing list
    * indicates required
    Small Business Services