Memphis in May's Jim Holt to retire after 25 years in role; interim leader named

Longtime Memphis in May President and CEO Jim Holt is stepping down from his post after a quarter century.

In a statement released Tuesday by Memphis in May, Holt — who has led the nonprofit organization since 1998 — announced he will retire at the end of January.

Memphis in May executive vice president and chief financial officer Mack Weaver — who has also been with the organization since the late 1990s — will serve as interim president.

Memphis in May did not detail plans or a timeline to hire a permanent successor for Holt.

Holt’s retirement comes at a difficult time for Memphis in May. Last month, the 46-year-old organization announced it was suspending its long-running Beale Street Music Festival after several years of declining attendance and financial losses.

That news was followed by an announcement from the Memphis River Parks Partnership — which manages Tom Lee Park — that promoters Forward Momentum/Mempho would stage a new music festival at Tom Lee in May 2024, essentially replacing Memphis in May’s music fest.

Memphis in May had also confirmed plans for its World Championship Barbecue Cooking Contest for May 15-18 at Midtown’s Liberty Park. But earlier this month, Forward Momentum announced it would be staging a new barbecue competition the week of May 13 at Tom Lee, offering a direct challenge to Memphis in May's event.

In a letter addressed to Al Gossett, Memphis in May’s 2024 board chairman, Holt explained his decision, noting that he’d been contemplating retirement for several years. “But I wanted to help guide the organization through the unforeseen challenges posed by the COVID-19 pandemic, as well as our displacement and eventual return to Tom Lee Park and the riverfront," Holt wrote. “Having turned 65 this year and with a clear path forward for Memphis in May, it seems like the right time to pass the baton to our next leader."

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In his letter, Holt added, "It has been an extraordinary privilege to serve Memphis in May. Together with our remarkable team, board leadership, and the hundreds of dedicated volunteers and supporters throughout this organization, we have achieved significant milestones and navigated both challenges and triumphs. I am incredibly proud of all that we have accomplished together. I have full confidence in our capable team and leadership, who will continue to guide Memphis in May toward even greater success in the future."

In a statement addressing Holt’s departure, Gossett said: "Jim's expertise and dedication have played a pivotal role in shaping Memphis in May into a renowned month-long celebration and a destination for Memphis and the entire Mid-South region. He has built a highly capable and experienced team, and we are deeply grateful for his contributions."

Holt took over as Memphis in May’s executive director in October 1998. Memphis in May noted that during his 25 years as head of the organization it had “achieved significant milestones, including the growth of the Beale Street Music Festival and World Championship Barbecue Cooking Contest to national and international acclaim, the introduction of the Great American River Run, the direction of 22 international honored country salutes, and the production of the 2019 Bicentennial celebration for the City of Memphis and Shelby County.”

Recent returns for Memphis in May have not been as positive. According to the organization's annual report, released in October, it suffered a $3.48 million loss from its 2023 operations. The previous record loss of $2.23 came in 2022 when the festival was moved to the Fairgrounds at Liberty Park due to ongoing renovations at Tom Lee Park.

Attendance at the 2023 Beale Street Music Festival also “fell to its lowest level in over thirty years at 37,805,” according to the report, while attendance at its World Championship Barbecue Cooking Contest “dropped as well to 39,625.”

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Over the last few years, Holt had also come under scrutiny for his very public battle with the Memphis River Parks Partnership, and its leader Carol Coletta, over Memphis in May's use of Tom Lee Park.

In 2023, Memphis in May's events at Tom Lee resulted in $1,425,366 damages, which are owed to the Memphis River Parks Partnership. In September, Memphis River Parks filed a lawsuit against Memphis in May, seeking to collect an outstanding balance of $675,000 for the damages to Tom Lee.

This article originally appeared on Memphis Commercial Appeal: Memphis in May's Jim Holt to retire; interim president named