Jay C. Flaherty was promoted to vice president and chief investment officer of the Charles Stewart Mott Foundation, Flint, Mich., succeeding Michael J. Smith, who retired on Dec. 31.
Mr. Flaherty joined the Troy, Mich., investment office of the $2.13 billion foundation in 2007 as an investment manager and was promoted to assistant vice president last year, while maintaining responsibility for hedge fund and private equity investments, according to a foundation news release.
Carol D. Rugg, a Mott Foundation spokeswoman, said in an interview that Mr. Flaherty won't be replaced in his previous position.
