Mitt Romney, with wife Ann, accepts the job of SLOC leader INTERACTIVE: The scandal: A closer look  Background: The five members of the SLOC ethics panel, all volunteers, are: Gordon Hall, a former chief justice of the Utah Supreme Court David Jordan, a former U.S. attorney for Utah Patricia Hanna, dean of the University of Utah college of humanities Barbara Day Lockhart, a two-time Olympic speedskater (1960 and 1964), who now is a Brigham Young University professor Merrill Norman, a forensic auditor and expert trial witness RELATED DISCUSSION Olympic Bribery

In this story: More Salt Lake City resignations New IOC offenses? Corporate sponsors offer conditional support RELATED STORIES, SITES

SALT LAKE CITY (CNN) -- Plagued by scandal involving its effort to secure the Olympics, the Salt Lake City Organizing Committee Thursday announced new ethics reforms and named a new president -- Massachusetts venture capitalist Mitt Romney.

Two Salt Lake City Olympic officials quit in connection with the most recent ethics investigation, and the resignation fallout could spread to the International Olympic Committee.

IOC officials said Thursday they will investigate 10 additional members implicated in the Salt Lake bribery scandal, even though not all of the new cases appear to warrant expulsion.

Romney, known for reviving troubled businesses, was hired by a unanimous vote of the Salt Lake Organizing Committee (SLOC) to take over as president and chief executive officer as the Utah capital and surrounding areas prepare to host the 2002 Winter Games.

"My goal is to make Utah proud, to make America proud," he said. Romney plans to form a task force that adopts a "code of conduct" for each SLOC member and make sure the organization does not "spend more money than we take in."

Romney took the helm two days after the SLOC's ethics committee released a report saying bid committee executives engaged in unethical conduct in spending more than $1 million to gain favor with 24 IOC members and win the right to host the 2002 Winter Games.

He replaces Frank Joklik, who stepped down as SLOC's chief executive officer in January. Joklik has maintained that he was unaware of violations that led to the largest scandal in Olympic history.

The SLOC also unanimously approved a sweeping reorganization, including new ethics rules to prevent conflict of interest. They directly affect SLOC trustees Alan Layton and Earl Holding. Layton immediately resigned. His construction company won a $29 million contract to enclose the speed skating oval.

Holding remained on the committee. He owns a ski area venue that SLOC is paying $13.8 million for, and a hotel being built in Salt Lake City as the IOC's home during the Games.

Verl Topham, president of Utah Power, who had served on the original bid committee, also resigned for the good of the Games, he said.

Among other changes, the SLOC agreed to:

• expand its board of trustees from 33 to 50, remove its decision-making authority, and make it an advisory board to a new management committee with 20 members;
• adopt an open meetings and records policy; and
• require that SLOC members attend 75 percent of meetings or be asked to resign.

IOC Director General Francois Carrard said the 10 new names cited in the Salt Lake City ethics report were not necessarily guilty of major offenses.

"We will look into all these matters, but prima facie, some of the cases do not necessarily appear to be serious," Carrard said from Lausanne, Switzerland. But "(if) we find we have to make further recommendations (for expulsion), we will," he said.

In New York, the IOC's top investigator said the Salt Lake report contained no remarkable revelations but provided the committee with new leads to follow. Vice President Dick Pound said he wanted to study details involving travel and entertainment of IOC members paid for by the Salt Lake bidders.

"We should follow up on it," he said. "It's out there, and we have no intention of sweeping it under the rug."

Pound mentioned the case of Shagdarjav Magvan, the IOC member from Mongolia, whose son, Bold, received $762 in expenses to attend the University of Utah and held an internship at a bank run by a member of the Salt Lake Olympic Committee.

Pound also said the Utah report contained key information about Kim Un-yong, the South Korean businessman and IOC executive board member who is the highest-ranking official implicated so far.

Kim's case was one of three that remained under investigation after the initial phase of the IOC inquiry. But Pound said the Utah report opened up the "somewhat complicated employee relationship" of John Kim, the IOC member's son, in a telecommunications job paid for by the Salt Lake bidders.

Last month, 14 IOC members who received cash or favors from the Salt Lake bid committee were identified. Nine have either resigned or been expelled by the IOC executive board. Three others remain under investigation, and one received a warning. Another member died last year.

Further expulsions could take place before a special IOC assembly in Lausanne in mid-March.

Besides Magvan, new IOC members cited in the SLOC ethics panel report were Henry Edmund Olufemi Adefope, Nigeria; Ashwini Kumar, India; Anani Matthia, Togo; Ram Ruhee, Mauritius; Austin Sealy, Barbados; Paul Wallwork, Western Samoa; Mohamed Zerguini, Algeria; Willi Kaltschmitt, Guatemala; and Phil Coles, Australia.

According to the report, Kaltschmitt, also the Guatemalan ambassador to Cuba, enjoyed lavish perks paid for by the bid committee during four vacations to the United States. He denied Thursday he received any improper contributions.

Coles denied any wrongdoing Wednesday but has since stepped down, pending an investigation, from the Sydney organizing committee for the 2000 Summer Games in Australia.

Corporate sponsors remain supportive despite the corruption scandal, Pound said Thursday in New York after a conference call with some. "There is nobody that has withdrawn," he said.

However, John Hancock Mutual Life Insurance announced this week it would postpone negotiations to buy $20 million in Olympic advertising on NBC to protest the IOC's handling of the crisis. And an official with General Motors Holden, a major sponsor of the Sydney Games, expressed concern Thursday about the growing scandal.

Neither company said it was considering withdrawing Olympic sponsorship, Pound and company officials said.

Correspondent Greg LaMotte and Reuters contributed to this report.

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