Fred C. Sears II, President and CEO of the Delaware Community Foundation (DCF), announced his intention today to retire, effective December 31, 2015.
Under Sears’s 13 years of visionary leadership, the DCF has tripled the amount of long-term charitable funds it manages, and assets now stand at more than $285 million. Over the past two years, Mr. Sears also has led the DCF through the transition to its new mission to build a shared vision for Delaware’s future, by gathering knowledge through an online database and focusing the community’s work toward the common good.
“Now that our board and other Delaware leaders have signaled their strong support for our new role and direction, it seems to me that this is the appropriate time for the mantle of leadership to pass to a new president and CEO,” Mr. Sears said. “I am grateful to have had the opportunity to lead the organization through this transformative process.”
Prior to taking on the DCF leadership post, Mr. Sears had a 38-year career in banking, most recently as President of Commerce Bank/Delaware. A long time civic leader and Delaware native, Mr. Sears has served on the boards of directors of more than 40 community nonprofit organizations.
“Fred has served us and our state with remarkable distinction. In large measure, his catalytic role has forged our organization’s more prominent position in civic leadership,” said Marilyn Hayward, Chair of the DCF Board. “We will now conduct a national search to find a worthy successor to Fred, an admittedly difficult task.”