Changes at the Helm of 2 California Funds

The chief executives of the two private philanthropies created by the founders of the Hewlett-Packard Company have announced their departures:

* David Pierpoint Gardner, 65, announced his intention to retire from the William and Flora Hewlett Foundation, in Menlo Park, Cal., by June 30, 1999.

* Cole Wilbur, 63, announced that he plans to retire from the David and Lucile Packard Foundation, in Palo Alto, Cal., by early 1999.

Although Mr. Packard and Mr. Hewlett were long-time friends and business partners, their foundations operated separately and the timing of the retirement announcements was simply a coincidence, foundation officials said.

Mr. Gardner has been president of the $2-billion Hewlett fund since 1993. The fund’s board approved a paid 18-month study leave for Mr. Gardner after his retirement so that he can write a book on the University of California system, where he was president from 1983 to 1992.

During those 18 months, Mr. Gardner will continue to receive the same compensation he received as head of the foundation. He now makes $332,000 a year.

Mr. Wilbur has been executive director of the Packard fund since 1976, when he became the foundation’s first professional employee.

Recently, Mr. Wilbur led the foundation through a major reorganization as it gets ready to receive a $5.3-billion bequest from Mr. Packard, who died in 1996. When the money is transferred, the Packard Foundation will be worth about $9-billion and will become the third wealthiest in the country, after the Lilly Endowment, in Indianapolis, and the Ford Foundation, in New York.

After his retirement, Mr. Wilbur will serve as a consultant to the fund and will join its board.