The Tennessee Technology Development Corp.'s two top leaders are resigning.

Eric Cromwell, president and CEO, and Dan Schmisseur, vice president of operations and strategy, will leave the organization effective this Friday to "pursue entrepreneurial interests in the private sector," according to a written statement from TTDC Chair William Evans.

Evans said Cromwell deferred similar plans in 2007 to lead the TTDC, knowing that he would resume his business pursuits "once the strategic vision of the organization was developed." The resignations signal the TTDC has reached that point, Evans said.

The TTDC board will meet in coming days to name an interim president and CEO of the nonprofit organization, consulting with state officials about the selection process moving forward.

Under Cromwell’s leadership, the TTDC has launched initiatives including the Tennessee Capital Formation Board, Tennessee Strategic Research Board, Tennessee Enterprise Network and Tennessee Innovation Conference and Venture Showcase.