Alberto Ibargüen is stepping down president of the John S. and James L. Knight Foundation, a $2.5 billion philantropy that supports journalism and culture.
Ibargüen announced his retirement on Monday.
The foundation’s board of trustees will begin a national search. Ibargüen will serve until a successor is appointed.
Ibargüen has led the fund for nearly two decades, overseeing the disbursement of $2.3 billion. He also has served as publisher of the Miami Herald and El Nuevo Herald.
During his tenure, the Knight Foundation launched the Knight First Amendment Institute at Columbia University and endowed the Reporters Committee for Freedom of the Press to provide legal assistance to newsrooms, while contributing to numerous other institutions and causes.