Port of Seattle CEO Dinsmore to retire in early 2007

Port of Seattle CEO Dinsmore to retire in early 2007    Port of Seattle Chief Executive Officer Mic Dinsmore on Wednesday announced that he will step down from his post early next year.
   Dinsmore has been chief executive for 14 years, the longest tenure in that position in the port’s 95-year history.
   Port commission chairwoman Patricia Davis said the commission accepted Dinsmore’s decision with profound regret.
   “He will be leaving an unprecedented legacy,” Davis said. “Mic Dinsmore has forged consensus among commissioners, customers, labor and business leaders, diverse communities and elected officials to lead the Port of Seattle to unparalleled successes. He has carried out commission investment policies with drive, dynamism and creativity. His unique blend of business acumen and diplomatic skills have brought tremendous economic vitality to our region for many years, and spectacular results in the past two years. He will be hard to replace.”
   Although he is not retiring from professional life, Dinsmore, 61, said it is a good time to transition because the port is on a trajectory to bring even greater financial and business results to the region. The port will set records again this year in virtually every line of its business: passengers at Seattle-Tacoma International Airport, international container cargo and cruise operations.
   In the seaport, Dinsmore oversaw development of three new container terminals, which led to double-digit growth in international trade in each of the past two years. His nurturing of extensive business and trade relationships in Asia foresaw the increase in trade with China, which is now the leading trading partner with the Port of Seattle.
   Davis said the commission will immediately begin a nationwide search for the new top executive, and expects to select a new CEO by the end of the year. Ideally, she said, the new chief executive will be in place in time to work in tandem with Dinsmore to achieve an orderly transition. Dinsmore said he expects to leave near the end of the first quarter of 2007.