Richard W. Lawrence was named president and CEO of the University of Colorado Foundation, according a news release on the foundation's website.
The foundation partners with the University of Colorado to manage and invest $750 million in endowment assets for the university's benefit.
Mr. Lawrence will replace J. Wayne Hutchens, who is retiring. Mr. Lawrence will start his new positions immediately; Mr. Hutchens will remain on staff through April 1 to help with the transition.
In his new role, Mr. Lawrence will oversee the endowment assets and a staff of 200.
Mr. Lawrence has worked at the CU Foundation for the past six years, most recently as COO and executive vice president. Mr. Lawrence has “helped lead evolutions in the foundation's investment management and real estate foundation structures, and has negotiated critical donor and university-partner arrangements,” according to the news release.
Jeremy Simon, CU Foundation spokesman, said a replacement for Mr. Lawrence has not been named yet. Messrs. Simon and Lawrence were not available for additional information or comment.