Charlotte, N.C. — Elizabeth H. Locke, president of The Duke Endowment, will retire at the end of 2004, and Eugene W. Cochrane, the foundation’s vice president and director of its health-care division, will succeed her.
As part of the transition at the $2.1 billion-asset foundation, the state’s largest, Locke will step down in January as director of its education division, and Cochrane will step down as director of the health-care division.
Other changes Jan. 1 include the promotion of J. Porter Durham, staff counsel and associate director of the education division, to director; Mary L. Piepenbring, associate director of the health-care division, to director; and Linwood B. Hollowell III, assistant director of health care, to associate director.
Cochrane, who has worked in the health-care division since joining the foundation in 1980, will remain as vice president through 2004.
He says he will use the time to learn about the other divisions before he takes over as president.
The foundation, which supports health care, child care, rural churches and education in the Carolinas, made grants in 2002 of more than $116 million.
Grants go to nonprofit health-care institutions, residential children’s programs and adoption placement agencies, rural United Methodist churches and retired ministers, and four schools — Duke University, Davidson College, Furman University and Johnson C. Smith University.
During her eight years as chief executive, Locke encouraged the foundation’s four divisions to work together on projects and make joint grants, a new approach for the traditionally independent divisions, says David Roberson, director of communications.
The rural-church and health-care divisions, for example, teamed up to offer a parish nurse program, while the rural-church and child-care divisions paired up on a model day-care program, he says.
Locke also moved the foundation’s Durham office to its Charlotte headquarters.