Peter Degnan Named Managing Director of William Penn Foundation

The William Penn Foundation has hired Peter J. Degnan as its new managing director. Degnan was formerly the vice dean of finance and administration at the University of Pennsylvania’s Wharton School.

The choice follows a lengthy search for new leadership and much speculation about the rift between the foundation and its former president Jeremy Nowak, who stepped down in November 2012.

As the city’s largest foundation, many in the nonprofit and social good sector are watching internal changes like this to determine what the foundation’s charitable agenda will be going forward.

One thing worth noting is that William Penn changed its leadership structure following Nowak departure. Now, instead of a single executive position, the managing director will oversee three other key leadership positions: chief investment officer, chief philanthropy officer, and director of finance & administration.

The reason for this change, according to David Haas, chairman of William Penn’s board of directors, this change was made to better prepare the organization for its expanded and increasingly complex role in Philadelphia.

Read more at williampennfoundation.org.