Yale president announces retirement

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NEW HAVEN, Conn., Aug. 30 (UPI) -- Richard C. Levin, who has been president of Yale University in Connecticut for almost 20 years, said Thursday he will retire at the end of the academic year.

Levin, who was appointed to the post in 1993, has now served longer than any other current president in the Ivy League and has had one of the longest terms in Yale's history, The New York Times reported. But

he was given the post reluctantly, with a search committee delaying the decision while they tried to find an outsider instead of Levin, who had spent his career at Yale, the report said.

During his tenure, Yale expanded and renovated its buildings. Levin also got finances under control, increasing the endowment from $3.2 billion to $19.4 billion, second only to Harvard.

Levin, a native of San Francisco, attended Stanford University and Oxford before he received a doctorate in economics from Yale. He remained at the university as a professor, chairman of the economics department and dean of the graduate school of arts and sciences.