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According to the announcement, which was made today, Jayaram's appointment is effective February 24.
United States Artists is currently located in Los Angeles; a spokesperson says Jayaram's location is "under discussion." The nine-year-old organization was launched with a $22 million endowment by the Ford, Rockefeller, Prudential, and Rasmuson foundations.
CAC development director Sara Slawnik will serve as interim director until a replacement for Jayaram is found.
Under Jayaram, CAC broadened its focus from visual art to include multiple disciplines, and began to place greater emphasis on the business aspect of an arts career, seeking to "build a sustainable marketplace for entrepreneurial artists and creatives." Among its expanded activities: the Chicago Artists Resource website (CAR), handed off by the city in 2012.