William C. Richardson, the health-care management specialist picked by Johns Hopkins University just four years ago to lead it to financial stability, resigned as the school's 11th president today to take over one of the nation's largest philanthropic foundations.
Starting Aug. 1, Dr. Richardson will head the W.K. Kellogg Foundation, the nation's second wealthiest.
Its headquarters is in Battle Creek, Mich.
The move took the campus by surprise. Dr. Richardson could not be reached immediately for comment, as he was busy telephoning deans of the university's separate schools to inform them of his decision.
The Kellogg Foundation, based on the cereal fortune, has more than $6 billion in assets -- trailing slightly behind the Ford Foundation.
In a prepared statement, Dr. Richardson, 54, said:
"The warmth and generosity of the people who welcomed me and my family five years ago has only grown over the years, and, of course, the university is without peer. But the opportunity to lead one of the world's great philanthropic organizations comes very infrequently. Also, many of the foundation's interests are very close to my own, including health, education and community development. Those two factors made the opportunity irresistible."
Hopkins trustee chairman Morris W. Offit said, "Bill Richardson's strong creative and energetic leadership has been an inspiration to the entire Hopkins community -- to students, faculty, staff and alumnae -- and to the city of Baltimore and the state of Maryland."
Dr. Richardson was plucked from his post as vice president of Pennsylvania State University in January 1990 to succeed Stephen Muller, whose expansion of Hopkins' academic empire stretched both its reach and its resources.
Dr. Richardson was particularly hailed for his ability to build consensus on campus and his ability to coax dollars from potential donors, and he was expected to spearhead the university's five-year $900 million fund-raising drive announced earlier this fall.
While he had not heard of Dr. Richardson's decision, David Merkowitz, vice-president for public affairs for the American Council on Education, said, "This isn't the glorious time to be president of a research university, especially as we're looking possibly at very significant cuts in government funding."