Wednesday, 22 February 2017
Last updated 13 hours ago
Jun 25 2014 | 8:42am ET
After 11 years as Commonfund CEO and president, Verne Sedlacek is stepping down.
Sedlacek has agreed to stay on until his successor—who will be the fund's fifth president and CEO since it was established in 1971—is found.
“It has truly been an honor and a privilege to lead Commonfund for the past 11 years,” said Sedlacek. “I look forward to working with the board throughout the search and selection process and to ensure a smooth transition to my successor.”
The Commonfund board has hired an executive search to help it find a replacement for Sedlacek and expects the hunt to take “upwards of a year.”
Commonfund, directly or through its subsidiaries Commonfund Capital and Commonfund Asset Management Company, manages nearly $25 billion for about 1,400 clients.