Steven Hilton, CEO of the Conrad N. Hilton Foundation, announced he will retire at the end of 2015. Hilton has led the foundation for over 30 years, and has transformed it from a staff of six and a budget of $6 million to annual grant making in excess of $90 million.
The Hilton Foundation was founded in 1944 by hotelier Conrad Hilton, who left much of his fortune to “aid the world’s most disadvantaged and vulnerable people.” Its funding priorities include researching and aiding foster youth who are “aging out” of foster care in America.
Hilton is currently helping to back the establishment of the National Foster Youth Institute. Domestically, they also invest in early intervention programs and substance abuse prevention, including Project ALERT, a substance abuse prevention curriculum for middle school students.
“It is truly a blessing to see how the collective efforts of our team have improved the lives of disadvantaged and vulnerable people around the world,” said Hilton. “The Hilton family philanthropy legacy will continue to grow, as will the Foundation, with my father’s pledge.”
Hilton will remain as Chairman of the Board. According the the Hilton Foundation, the next CEO and President will be chosen by a search process head by the Board of Directors and an executive recruiting team. No interim CEO has been announced as of press time.
Click here to read the Chronicle‘s funder profile of the Hilton Foundation.
Teddy Lederer is a journalism intern for Chronicle of Social Change.