October 12, 2006 | Read Time: 3 minutes
The president of the Ford Foundation, Susan V. Berresford, has announced that she will retire in 2008 after leading the organization for 12 years.
“I know it is time for a new stage in my life, one that includes more time for my family,” she said in a statement.
The foundation said its Board of Trustees will organize a committee in January to search for her replacement.
Ms. Berresford, who will turn 65 in two years, joined Ford in 1970 as a researcher and steadily climbed the ranks, serving as vice president for programs and as Ford’s chief operating officer before taking over as president.
During Ms. Berresford’s time as its leader, the foundation has been credited with increasing its grant making in support of antipoverty work, human rights, and conflict resolution. For example, in 2000 it made the largest grant in its 72-year history — $330-million — to help educate and train thousands of future leaders from developing countries.
$11.6-Billion in Assets
In addition, the foundation’s endowment has swelled from $7.7-billion when Ms. Berresford became president, to $11.6-billion as of the end of last year, making it the nation’s second-wealthiest grant maker.
Ms. Berresford said one of her proudest accomplishments has been steering the foundation’s effort to provide much-needed assistance after the September 11, 2001, terrorist attacks and natural disasters such as Hurricane Katrina.
“I am proud that, in difficult times, we quickly provided support to people in distress,” she said.
But her tenure has not been without controversy.
In 2003, for example, after a handful of Jewish organizations accused Ford of supporting Palestinian groups that oppose Israel, Ford began requiring its grantees to sign a letter saying they would steer clear of all groups or individuals that espouse bigotry or violence. Ford’s move was criticized by some charities and civil-liberties groups, which argued the pledge was overly restrictive.
Ms. Berresford also has dealt with an inquiry by the Michigan attorney general’s office. (The fund’s headquarters are in New York, but it is incorporated in Michigan and the state attorney general there oversees its activities.)
The attorney general, Mike Cox, has not accused the fund of any wrongdoing, but has said the grant maker has ignored the Ford family’s philanthropic wishes by reducing support for charities in the state, a charge the foundation denies.
In addition, Mr. Cox has raised questions about whether the salaries of some Ford executives are excessive.
Ms. Berresford, for instance, earned $702,689 last year. Foundation officials have said the compensation is justified given the scope and complexity of the foundation’s programs, and the size of its staff — 600 employees working in more than a dozen offices around the world.
Ms. Berresford’s decision comes as a number of the wealthiest foundations in the United States have replaced their top leadership during the last few years.
Since 2003, six of the 10 wealthiest foundations, including Ford, have either hired new chief executives or are looking for new ones. That trend is largely the result of demographic shifts, as many chief executives, like Ms. Berresford, are approaching retirement age.
