Eli Broad Announces Retirement From Broad Foundation After Six Decades

After Six-Decade Career in Business and Philanthropy Eli Broad is retiring from The Eli and Edythe Broad Foundation and passing responsibility for the foundation’s philanthropy to its President Gerun Riley.

Eli Broad Announces Retirement From Broad Foundation After Six Decades

(Image from http://broadfoundation.org/about-us/)

 

A HUGE THANK YOU TO PHILANTHROPIST ELI BROAD FROM THE ELI AND EDYTHE BROAD FOUNDATION!  HE HAS DONE AMAZING WORK AND CREATED SUCH IMPACT IN OUR SECTOR! HE IS NOW PASSING RESPONSIBILITY FOR THE FOUNDATION’S PHILANTHROPY TO ITS PRESIDENT GERUN RILEY.

“At age 84, I have decided the time has come for me to step back,” Broad said. “Though I’m in great health, I am eager to spend more time with my family.”

According to the Foundation press release Board appointed Riley who was formerly the Foundation’s Senior Vice President and a 14-year member of its leadership team, as his successor. The foundation has a $2.5 billion endowment, which is significant, and they create incredible impact.

“Edye and I have the utmost confidence in Gerun’s vision, leadership and ability to carry the foundation’s work forward.,” Broad said.

“In 1999, after merging SunAmerica with AIG, the Broads dedicated themselves fulltime to philanthropy. Over the course of their lifetimes, they have given more than $4 billion to support K-12 public schools, advance scientific and medical research and bring contemporary art to as wide an audience as possible.”

“The Broad Foundations, which include The Eli and Edythe Broad Foundation and The Broad Art Foundation, were established to advance entrepreneurship for the public good in education, science and the arts. For more information, visit www.broadfoundation.org.”

 

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ABOUT THE MISSION OF THE FOUNDATION:

“Philanthropists Eli and Edythe Broad started the Eli and Edythe Broad Foundation to advance entrepreneurship for the public good in education, science and the arts. The Broad Foundation invests in the people, programs and institutions that are improving the human mind, body and spirit.

The foundation has created groundbreaking independent institutions in each of its three investment areas, including The Broad Center, which develops leaders to help transform America’s urban public schools, The Broad Institute, a global leader in genomics, and The Broad, a museum in downtown Los Angeles devoted to showcasing great contemporary art.”

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