Maxwell King, president of the Heinz Endowments, announced today that he will retire next spring.

Mr. King, who had informed Board Chair Teresa Heinz Kerry and Vice Chair James Walton of his intentions previously, made the announcement official to staff this morning at a regularly scheduled meeting, according to a news release.

Mrs. Heinz Kerry will chair a seven-member committee of the board to select King's replacement.

Mr. King, former editor of The Philadelphia Inquirer, has been with the Heinz Endowments since 1999.

Mr. King, 63, told staff that there were no health problems contributing to his decision, referring to an incident in November when he collapsed from sudden cardiac arrest while attending a meeting at the Carnegie Museum of Art. He has since fully recovered, according to the news release.