Jane Mendillo announced that she plans to step down from her role as president and CEO of Harvard Management Co. at the end of the year, Ms. Mendillo confirmed in a phone interview.
“I've been thinking about this since sometime last year, and I've accomplished what I set out to accomplish,” she told Pensions & Investments adding that she wanted to choose a time to leave when both the firm and portfolio was “in excellent shape.”
“With things as well-positioned as they are, I felt it was the right time,” Ms. Mendillo said.
HMC manages the assets of the Cambridge, Mass.-based Harvard University's $32.7 billion endowment.
Ms. Mendillo, who was appointed president and CEO of HMC in 2008, will continue her responsibilities for the remainder of the year to facilitate the transition process. Following her departure, she will continue to serve on a number of boards and investment committees. She said she does “not envision taking on another full-time job.”
HMC has already begun a search for Ms. Mendillo's successor.