Former Mayor Sam Adams has ended the speculation about his next career move—he will soon be named the new executive director of the Portland City Club. The civic organization, best known for its Friday forums at the Governor Hotel, has drifted lately and has been looking for a way to revitalize itself. 

City Club announced the hire today on its Twitter feed. 

Adams will take a big pay cut in the new job. Although his salary has not been announced, City Club's most recent tax return, filed in November 2011, showed then-Executive Director Charity Fain's compensation was $59,000. Adams' final salary as mayor was about twice that amount.

Updated: here is a statement from City Club and Adams:

Sam is an ideal fit for City Club as we approach our 100-year anniversary," said Pat McCormick, City Club president. "He has a compelling vision and personal passion for civic engagement and public policy, deep knowledge of the community and a diverse network of relationships among community, business and political leaders."

The City Club's choice followed an extensive three-month search process conducted by a diverse committee of City Club members. The search attracted more than 80 applicants from across the U.S. The recommendation from the search committee was endorsed by the Club's Board of Governors on January 14. Adams will take over as executive director on January 22. "In my new role at City Club I can continue to encourage exceptional urban public policy in a region I love, on behalf of an organization whose tradition of unbiased, citizen-led policy research remains unique and imperative in today's hyper-partisan environment," said Adams. "I also look forward to helping City Club engage a broader, more diverse group of voices from across the community as its research, advocacy and programs evolve."