Yale University President Peter Salovey, who has led the Ivy League school for 11 years, announced on Thursday that he will step down from his post next year in June. According to a press release, Mr Salovey, 65, has held the office since 2013. He indicated that he would return to Yale's faculty after the current year ends.
"Peter Salovey announced today that this academic year will be his last as Yale's 23rd president, and that he will return to the faculty full time after 11 transformative years as head of the university," the press note read.
"Since he took office in 2013, Yale has made significant strides toward the vision he articulated upon his appointment as president - a vision he has continually reinforced of 'a more unified Yale, a more accessible Yale, a more innovative Yale, and an even more excellent Yale.'" it added.
According to Forbes, Mr Salovey has spent all of his academic career at Yale. After receiving a BA in psychology and MA in sociology from Stanford, he earned three degrees at Yale in psychology - MS in 1983, MPhil in 1984 and PhD in 1986. He joined the Yale faculty in 1986, where he became an award-winning scholar in several areas of psychology, the outlet reported.
Before becoming president of Yale, Mr Salovey has also served as Yale's provost, dean of both Yale College and the Graduate School of Arts and Sciences as well as chairperson of the Psychology Department.
In his statement, the 65-year-old said that there was "no perfect moment" for a president to step down, but that "the best time to search for a new leader is when things are going well".
"I hope you share my view that we emerged from the COVID era a stronger university, and over the past decade, one that has made serious and meaningful strides to be even more preeminent in teaching and research, in addressing pressing global challenges, and in preparing the next generation to serve and lead worldwide," he added.
According to the press note, under Mr Salovey's leadership, the Ivy League college saw impressive gains in several areas, including a doubling of its endowment, a total of $7 billion in fundraising, an increase in its student diversity, the addition of 2.2 million square feet of teaching and research space and substantial growth in its research achievements, including the addition of several research institutes.