Michael Fassnacht will stay on as president and CEO of World Business Chicago, leading the city’s economic development arm as Chicago works to recover from the impact of the COVID-19 pandemic.

Fassnacht has been leading World Business Chicago in an interim capacity since January, when former CEO Andrea Zopp stepped down. He is also the city’s chief marketing officer and will continue to fill both roles.

“I think we all saw the tremendous synergies between the chief marketing officer role and the CEO of World Business Chicago, because it’s ultimately promoting and selling the great city of Chicago to businesses and corporations and talent,” said Fassnacht, 54.

The not-for-profit organization, which is a public-private partnership, promotes Chicago as an international business destination and seeks to attract new business to the city. The organization was hit hard by the pandemic. Last year, reduced revenues forced it to cut nine of its 39 positions.

“Getting through and beyond economic recovery requires a steady grip, focus and expertise,” Mayor Lori Lightfoot said in a news release. “Michael brings that and more to the City of Chicago. Time and time again, Michael has demonstrated his passion for inclusive economic development and investment while simultaneously creating eye-catching and memorable marketing initiatives that center the authenticity of our residents.”

The former CEO and president of ad agency FCB Chicago, Fassnacht was named the city’s first chief marketing officer in April 2020.

Robert Channick contributed.

lzumbach@chicagotribune.com