The president of the University of Louisiana System has announced his retirement.
Randy Moffett, who's been in the job for four years, said Monday that he will leave the position in the fall to spend more time with his family.
Moffett's retirement comes after a tenure marked by repeated budget cuts that have stripped more than $426 million in annual state financing from higher education in Louisiana. The UL System has lost nearly 46 percent of its state funding since 2008.
The chairman of the UL System governing board, Wayne Parker, says the board will move quickly to start the process for choosing Moffett's successor.
Before being tapped for his current role in July 2008, Moffett had been president of Southeastern Louisiana University.
The University of New Orleans is a member of the University of Louisiana System.