Theodore S. Chapin, chairman of the Board of Directors, said in a statement, "Howard has been at the helm of the Wing at a time of great transition, and he has brought us new energy and vision. While showing commitment to the traditions of the Tony Awards, he has raised the profile of the Wing and brought a new generation of theater enthusiasts into our sphere. He has added a variety of new programs and has made our website an extraordinary repository for content - both new and archival - that supports the mission of the Wing. I am confident he will remain a friend to the Wing and a colleague of mine as he moves on to another chapter in his life.”

Chapin said that the board will meet in early 2011 to engage a search consultant and commence the process of finding Sherman's successor. Upon his departure, Sherman will have been with the Wing for eight years.

Regarding his decision to step down, Sherman said, "I’ve had an extraordinary journey in my time at ATW and I am exceedingly grateful to the board, the staff, our supporters and our partners for the opportunity to pursue my passions and to enhance this venerable organization. This has been one of my great experiences in the theatre, but I think I still have some adventures ahead of me and feel that now is an optimal time for me to pursue them.

"I do not have a new job on deck, but feel it is appropriate to make my intentions known now, rather than surreptitiously seek work and, in doing so, potentially undermine the work of The Wing. I look forward to exploring what is yet to come, but in the meantime, I am committed to serving out the term of my agreement through the 2011 Tony Awards and insuring the smoothest possible leadership transition for the organization."

The American Theatre Wing is a not-for-profit organization best known as the creator of the Antoinette Perry “Tony” Awards, which it presents annually with The Broadway League. For more information visit americantheatrewing.org.