Barbara J. Krumsiek will step down as president and CEO of Calvert Investments, effective Dec. 31, spokeswoman Annie Cull said.
Beginning Jan. 1, 2015, Ms. Krumsiek will retire from her day-to-day responsibilities, but will continue as chairwoman. She has been named founding chairwoman of the Calvert Institute, which the company is launching next January to promote sustainable and responsible investing.
A search for a new president and CEO is underway. Bill Lester, executive vice president of Calvert parent Ameritas Holding Co., is overseeing the search. The firm plans to hire the new executive before January.