Senior VP Penny will replace Colarossi

Updated: April 4, 2005, 11:24 PM ET
Associated Press

INDIANAPOLIS -- Steve Penny, the senior vice president of USA Gymnastics, was promoted Monday to president and chief executive officer of the sport's national governing body.

Penny replaces Bob Colarossi, who resigned in January to work for AEG, a sports and entertainment group.

"USA Gymnastics has made significant progress in many areas, and I intend to build upon this momentum in all of our disciplines as we head into the next quadrennium," Penny said in a statement. "We have an outstanding group of athletes, coaches, staff, volunteers, and sponsors who are dedicated to success."

Penny has been with USA Gymnastics since 1999, overseeing all marketing, event operations and communications. He also was responsible for managing the 2003 World Gymnastics Championships in Anaheim, Calif.

Penny also spent six years at USA Cycling, doing a variety of jobs including serving as its managing director.

Copyright 2005 by The Associated Press