TROY, MICHIGAN – The leadership transition is now complete with Rip Rapson assuming the position of president and CEO as of July 1, 2006. He succeeds John E. Marshall III who retired after 27 years of leadership at The Kresge Foundation.

Rip Rapson was most recently President of the McKnight Foundation, a $1.8 billion private foundation in Minneapolis. “I am honored to have this opportunity and look forward to continuing the extraordinary work of The Kresge Foundation,” says Rapson.

During his six years leading the McKnight Foundation, Rapson created a strategic framework for the Foundation’s programming, developed a new program in regional growth and development, launched a public/private initiative to address regional challenges in the twin cities, and guided a comprehensive statewide educational effort on the importance of investing in early childhood development. Prior to his tenure at McKnight, Rapson served as a Senior Fellow at the University of Minnesota and Deputy Mayor of Minneapolis.

He is an extensively published expert of urban and community development and an active community volunteer. He has served as Board President of the Minneapolis Public Library and received the Sigurd Olsen Award for Outstanding Volunteer Service to the Environment by the Sierra Club North Star Chapter.

Rapson holds a Juris Doctorate from Columbia University Law School in New York and a bachelor’s degree from Pomona College in California.

John E. Marshall III joined The Kresge Foundation in 1979 and held a variety of positions, most recently CEO for the past 13 years. Under his leadership, Kresge launched several national initiatives and strengthened its core program, which focuses on opportunities to enhance leadership and increase giving through challenge grants for capital projects. Reflecting on the work of the Foundation, Marshall said, “I am proud that we have designed a process to help nonprofits turn a capital campaign into a truly transformational experience.”

The Kresge Foundation is a national foundation with $3 billion in assets. The Foundation concentrates its programming on capital campaigns as a key opportunity for nonprofit growth. In 2005, the Foundation awarded 216 grants totaling $131,770,027 to organizations in the United States, Canada, United Kingdom, South Africa, and Mexico.