A former Harvard professor has been named president of the Arizona State University Foundation. Ira A. Jackson, a senior fellow at Harvard University and a former bank executive, will replace Lonnie Ostrom in January, ASU announced Tuesday.
Ostrom, who ran the foundation for more than 20 years, is leaving on a sabbatical, according to a news release.
Jackson, a graduate of Harvard's Business School, said he was "invigorated and proud" to join the ASU Foundation.
He previously was director of Harvard's Center for Business and Government, and an associate dean at its John F. Kennedy School of Government.
Jackson is co-author of "Profits with Principles: Seven Strategies for Delivering Value with Values."
ASU President Michael Crow called Jackson a strategic thinker who has a solid grasp of where ASU is going and what it needs to succeed.
"I am delighted he has agreed to help advance the ASU Foundation and through the foundation, advance ASU," Crow said, according to a news release.
Ostrom previously served as assistant dean of ASU's College of Business Administration from 1973 to 1982. It was unclear Tuesday whether he will remain as ASU's vice president for development and a professor at the W.P. Carey School of Business.
Ostrom's articles on marketing and profitability analysis have appeared in trade and peer-reviewed publications. He has co-authored two books.
The ASU Foundation is the university's fund-raising arm.
The private, tax-exempt organization is separate from the university, allowing it to manage assets of more than $300 million. It was established in 1955.
Foundation endowments are used for research, scholarships, endowment chairs, and fellowships.