Newly-appointed Secretary of Commerce-designate Mike Preston named Cheryl Schluterman as the Director of the Division of Arkansas Development Finance Authority (ADFA) when the agency becomes part of the Department of Commerce on July 1. Schluterman has served as interim president of ADFA since October 2018, and this appointment will make her position permanent.
“One of the goals of transformation was to improve the quality and delivery of services of agencies with similar missions,” Gov. Asa Hutchinson said. “Addressing the housing and financial needs of our citizens improves both quality of life and economic opportunities. I am confident that the partnership with Secretary-Designate Preston and Director Schluterman will strengthen our ability to ensure those needs will continue to be met.”
Before taking on the role of interim president, Schluterman served as ADFA’s vice president for finance and administration, a position she held from 2013 through 2018.
As part of Hutchinson’s government transformation, AEDC and ADFA will become two of several agencies within the Department of Commerce in the new fiscal year. Others include the Division of Aeronautics, Arkansas Waterways Commission, Arkansas Wine Producers Council, Office of Skills Development, Workforce Services, Insurance Department, State Bank Department and Securities Department.
“I knew from the beginning that I wanted Cheryl in this role permanently,” Preston said. “She has a passion for promoting homeownership and affordable housing in our state. She brings experience in a variety of areas that will help us continue our mission of economic prosperity for all Arkansans.”
Schluterman is a certified public accountant and holds a master of accountancy and bachelor of science degree in business administration from Kansas State University.