Virginia Tech Foundation CEO-COO to retire

Raymond J. Smoot Jr. will retire next July as CEO and COO of the $1.2 billion Virginia Tech Foundation, Blacksburg, confirmed Larry Hincker, spokesman for Virginia Polytechnic Institute and State University, for which the foundation runs assets.

Mr. Smoot will remain as a part-time consultant for two years.

John Dooley, vice president for outreach and international affairs, will succeed Mr. Smoot as COO in April and CEO in July. A national search for the replacement for his current position is beginning immediately, according to Mr. Hincker.