Commonfund CEO steps down

Wilton-based Commonfund announced last week that Verne Sedlacek would step down from his post as CEO of the organization after 11 years at the helm. Mr. Sedlacek has agreed to remain in his current role until his replacement is found, to ensure a smooth transition.

According to a press release, the organization’s board of directors has hired an executive search to help in the process of finding its next president and CEO. While there is no definitive time-frame set to name a replacement, the process is expected to take upwards of a year. Commonfund will be looking to find only its fifth president and CEO since it was founded in 1971.

“It has truly been an honor and a privilege to lead Commonfund for the past eleven years,” said Mr. Sedlacek in a recent press release. “I look forward to working with the board throughout the search and selection process and to ensure a smooth transition to my successor.”