PARKLAND, Wash. (AP) -- Pacific Lutheran University President Loren Anderson has announced that he's stepping down after 20 years.
Anderson says it's the right time for new leadership at the Parkland-based school. The News Tribune reports that Anderson's retirement will take effect next spring, and he says that by then, PLU's long-range plan through 2020 will be completed, faculty will be ready to implement new graduate programs, and a drive to raise money for athletic fields and a performing arts center should be finished.
Anderson helped raise more than $300 million during his tenure. The university's endowment jumped from $8 million in the early 1990s to more than $75 million today.
A committee of faculty members, students, administrators and regents are expected to begin a search for a new president this summer.
Anderson says he and his wife are assessing new professional and volunteer opportunities. He also wants to spend more time on his family farm in North Dakota and at his northern Minnesota lake home.