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CORVALLIS - Dwayne Foley, president and CEO of the Oregon State University Foundation, has announced he will resign from his position effective Feb. 1.

Foley, who simultaneously served as executive director of the OSU Alumni Association, is meeting with the association's leadership in the next few weeks to explore whether he will retain a role with the alumni association and the university.

"I had great hopes for coordinating the activities of the two organizations, but the time required to support both was simply too much to sustain," Foley said. "In this case, it is better to clear the way for new leadership to continue the progress."

Duane C. McDougall, chairman of the OSU Foundation Board of Governors, said the board will move swiftly to hire an interim leader.

"The Board of Governors appreciates the efforts that Dwayne has put forth on behalf of the foundation," McDougall said. "The OSU Foundation is well-positioned to continue adding to the vitality of Oregon State University - now and into the future - thanks to our outstanding people, a dedicated group of trustees, and the many loyal supporters of OSU."

Foley has headed the OSU Alumni Association and the Alumni Relations Office since January of 2000. In June of 2002, he was selected to also lead the OSU Foundation. At the time, he agreed to remain head of the alumni association on a part-time basis. The non-profit organizations are technically separate from each other and OSU, but both support the university.

A 1967 Oregon State engineering graduate, Foley is credited with strengthening the cultural and educational program offerings of the OSU Alumni Association, and modernizing the databases and management systems of the OSU Foundation.

Before joining OSU in his leadership roles, Foley spent more than 30 years at Northwest Natural Gas, where he was senior vice president from 1990 to 2000. At the same time, he also served as CEO of Oregon Natural Gas Development Corp., a subsidiary of Northwest Natural.

Foley also chaired the board of the OSU Foundation in 1998.

At the end of the last fiscal year, the OSU Foundation had total assets exceeding $375 million, and an overall endowment of more than $243 million. The foundation supports the university's academic programs by raising funds for scholarships, endowed chairs and professorships, as well as for new buildings, special collections, teaching, research and equipment.