The Walton Family Foundation announced Wednesday (Jan. 30) that executive director Kyle Peterson will be leaving the mammoth nonprofit this summer.

The Bentonville-based foundation was created in 1987 and is led by the descendants of founders Sam and Helen Walton. Carrie Walton Penner, who is their granddaughter, is the board chair.

In an emailed message signed by Penner, she explained that Peterson’s decision comes “with great disappointment” but praised his work and leadership.

 

“We are appreciative that he is willing to stay during the next six months to help with the transition,” Penner said in the note.

Peterson was hired in June 2016 to replace Buddy Philpot. He was a previously a managing partner and board member of FSG (formerly Foundation Strategy Group), a Boston-based nonprofit consulting firm that serves the social sector. Read more.