Red Stars' president Wilt leaves for Milwaukee club

Peter Wilt, the Chicago Red Stars founding president and CEO, has stepped down to accept a similar post with his hometown Milwaukee Wave, a men's team in the National Indoor Soccer League.

The Red Stars, in an announcement released today, said Wilt will remain one of the Red Stars owners and board members for the Women's Professional Soccer club. Wilt shall continue as one of the team's representatives on the WPS Board of Governors and as president of the Red Stars Charitable Foundation.

"The timing and the opportunity were both right," Wilt said. "From the beginning, three years ago, I planned to spend the time necessary to launch the team and shepherd the Red Stars through their first season. We hired (general manager) Marcia (McDermott) with the full expectation that we would make this orderly transition at the right time."

Wilt was named president/CEO of the Wave, the nation's oldest professional soccer team, at a news conference in Milwaukee Wednesday afternoon. Wilt joins the team 10 weeks after Wisconsin entrepreneur Jim Lindenberg was introduced as the new Wave owner on Aug. 5.

"The Red Stars have established a tremendous brand and organization and have already created tens of thousands of emotional connections with fans throughout Chicagoland," Wilt said. "Just like with the Fire, I will remain an avid supporter present at many games."

Marcia McDermott will take over many of Wilt's responsibilities.