Updated at 3:16 p.m. Aug. 20 with a statement from Explore St. Louis
Longtime Explore St. Louis President Katherine “Kitty” Ratcliffe, who announced her early retirement last month, will receive a golden parachute.
Those incentives included the equivalent of her base salary in a lump sum and extra compensation equal to performance bonuses she would have received through June 30 of next year, according to an agreement with the tourism agency. She’ll also receive contributions to her pension, health care coverage through next August and the title of the car she’d been driving.
KMOV reported yesterday that between her salary and the bonuses, Ratcliffe will collect at least $500,000 through the deal.
Ratcliffe could not be reached for comment.
Ratcliffe signed the agreement on July 1 and the next day publicly announced that she would be stepping down after 18 years leading the agency. Her contract was to end in August next year.
A spokesperson for Explore St. Louis said in a statement that its board of directors was acknowledging Ratcliffe’s experience and accomplishments with the agreement and that there was a need “to give the search firm the widest possible latitude in identifying a new president.”
Her departure follows efforts by the tourism agency to seek more money for the renovation and expansion of America's Center in downtown St. Louis, a project that had already spent $210 million obtained from bonds sold by the city and St. Louis County.
In February, Ratcliffe asked the St. Louis Board of Aldermen for help raising an additional $30 million to $40 million in funding to complete the project. Alderwoman Cara Spencer introduced a bill to tap $15.3 million of American Rescue Plan Act accrued interest, after the measure became law in April.
Construction for the expansion began in May 2022 and was billed as a way to bring more tourism money to downtown. The proposed renovation included more exhibition space, improved loading docks, a new entrance and more.
St. Louis and St. Louis County officials approved a deal to fund the upgrades in 2019. Bob Wallace, interim president of Explore St. Louis, said the COVID-19 pandemic slowed things down.
When asked if he had a mess to clean up from his predecessor in order to finish the project, Wallace demurred.
“That's a little presumptuous that I have plans to finish it up,” he said, adding later: “You’re catching me now on day seven, right? So I can’t say that I’ve reached any real conclusions.”
Lauren Brennecke contributed reporting to this story.
