Bob Ruxin, president of investment and financial consulting business Kazmaier Associates, said the company founder died Thursday following struggles with lung and heart disease, The New York Times reported Friday.
Kazmaier -- who won the Heisman Trophy in 1951 -- was the last Ivy Leaguer to be recognized as the nation's outstanding college football player. He turned down a career in the NFL in favor his business career.
Kazmaier served as chairman of the President's Council on Physical Fitness during the administrations of Presidents Ronald Reagan and George H.W. Bush and was president of the National Football Foundation and Hall of Fame.
Kazmaier is survived by wife Patricia, five daughters and several grandchildren.