Heres Why the CEO of Womens Tennis Just Stepped Down
Stacey Allaster, the CEO of the Women's Tennis Association, is stepping down from her role atop the organization started by tennis great Billie Jean King. The move is effective Oct. 2. Allaster, a Canadian, has led the WTA since 2009 after first joining the association as president in 2006. "It's been a privilege to lead the organization that Billie Jean King founded and to have worked with the world's best female athletes, dedicated tournament promoters and passionate and professional WTA team members. For 25 years I have dedicated my professional life to the sport and I'm proud of the work I leave behind," Allaster said in a statement. "But the recent loss of my brother-in-law and the ATP's CEO, Brad Drewett, has provided a personal wake-up call about life, family and priorities and it is time for me to shift some time and energy that way," she added. "When I joined the WTA my goal was to leave the organization on a stronger footing and I feel a humble sense of pride in what we have all accomplished here. I have focused on what it means to be a champion and I have tried to be a strong role model for women to encourage success in the sports industry.", During her tenure, Allaster secured 1 billion in diversified contracted revenues, pushed the game into the Asian Pacific market, and secured a huge contract to bring women's tennis more media time. The search for Allaster's replacement has commenced, a board member said in a statement. The news comes just weeks after the completion of the year's final major tournament, the U.S. Open. Fortune took a look at the event's history in pictures. In other tennis news, Serena Williams, who recently failed to win the Grand Slam of tennis, or winning all four majors in a calendar year, held a New York Fashion Week show.