COLUMBUS — The California venture capitalist hired by Ohio Gov. John Kasich to help jump-start Ohio's job-creation efforts is leaving his state management job and returning to the private sector.

Mark Kvamme will resign as president and interim chief investment officer of JobsOhio effective Nov. 1, board Chairman Jim Boland said Tuesday.

Mr. Boland said the board has selected John Minor, a longtime investment banker and one of the organization's managing directors, as Mr. Kvamme's replacement. Mr. Minor was the managing director at Evercore Partners and a senior vice president at both Barclays Capital and the former Lehman Brothers.

Mr. Boland said Mr. Kvamme will continue to live and work in Ohio, “pursuing private-sector opportunities that support the economic development and job creation mission he began at JobsOhio.”

Mr. Kasich originally tapped Mr. Kvamme as his state development director. But after a lawsuit alleged Mr. Kvamme's out-of-state residency made him ineligible for the job under Ohio's Constitution, Mr. Kasich moved him to the new non-Cabinet position of director of job creation.

The Silicon Valley entrepreneur held that job until JobsOhio was up and running.

First Published October 3, 2012, 5:11 a.m.