238.02 Creation and organization of corporation.
(1) There is created an authority, which is a public body
corporate and politic, to be known as the “Wisconsin
Economic Development Corporation.” The members of
the board shall consist of the governor, who shall serve
as chairperson of the board, and 6 members nominated by
the governor, and with the advice and consent of the senate
appointed, to serve at the pleasure of the governor; 3
members appointed by the speaker of the assembly, consisting
of one majority and one minority party representative
to the assembly, appointed as are the members of
standing committees in the assembly, and one person
employed in the private sector, to serve at the speaker’s
pleasure; and 3 members appointed by the senate majority
leader, consisting of one majority and one minority
party senator, appointed as are members of standing committees
in the senate, and one person employed in the private
sector, to serve at the majority leader’s pleasure. The
secretary of administration and the secretary of revenue
shall also serve on the board as nonvoting members.
(2) A majority of the voting members of the board
constitutes a quorum for the purpose of conducting its
business and exercising its powers and for all other purposes,
notwithstanding the existence of any vacancies.
Action may be taken by the board upon a vote of a majority
of the voting members present.(3) A chief executive officer shall be nominated by
the governor, and with the advice and consent of the senate
appointed, to serve at the pleasure of the governor.
The board may delegate to the chief executive officer any
powers and duties the board considers proper. The chief
executive officer shall receive such compensation as may
be determined by the board.
