Former Davidson College President Robert F. Vagt will become president of The Heinz Endowments in Pittsburgh in mid-January, the foundation announced today.
Vagt, 60, will lead the distribution of more than $80 million annually from the foundation, which began in 1941 as the Howard Heinz Endowment, reports Jane Stancill.
A $1.6 billion philanthropy, the foundation's money comes from the fortune of the ketchup company founder H.J. Heinz.
Vagt was president of Davidson from 1997 until earlier this year, when he was succeeded by Thomas Ross. Ross left the Z. Smith Reynolds Foundation to accept the Davidson presidency.
The switch in roles for the two men was noted by Vagt, who joked in the Davidson news release, "I guess I'm just a Tom Ross wanna-be!"